Conn. Federal Judge Dismisses $22.7 Million Arbitration Dispute
April 26, 2023
NEW HAVEN, Conn. — A Connecticut federal court has dismissed an action in which Hartford Fire Insurance Co. sought to compel an offshore reinsurer to arbitrate a dispute over $22.7 million in security for a series of workers’ compensation reinsurance agreements.
In the April 21 order, the U.S. District Court for the District of Connecticut explained that Hartford sought dismissal of the action without prejudice.
Hartford and Global Core Insurance SPC — an unauthorized reinsurer domiciled in the Cayman Islands — are parties to the reinsurance agreements. Under the agreements, Core provides reinsurance coverage to Hartford for the first $500,000 …