COURT DECLINES TO RECONSIDER RULING FOR REINSURER IN LIABILITY LIMIT DISPUTE
Pacific Employers Insurance Company moved for reconsideration of a recent court ruling that Global Reinsurance Corporation of America was not required to reimburse Pacific for costs beyond the $1 million cap on “reinsurance accepted” under a facultative certificate issued to Pacific by Global (see our May 5, 2010 post for details about the initial ruling). The court denied Pacific’s motion for reconsideration, noting that it failed to point to new evidence or a change in controlling law. The court also denied Pacific’s alternative motions seeking to have the previous order certified as final for immediate appeal, or to have the matter certified for an interlocutory appeal to the Third Circuit. The court held that claims for relief remain to be adjudicated, and that any appeal is premature and unwarranted. Pacific Employers Ins. Co. v. Global Reinsurance Corp. of America, Case No. 09-6055 (USDC E.D. Pa. June 9, 2010).
This post written by John Pitblado.
