United States:
New York Federal Court Denies Cedent's Motion For Reconsideration In Reinsurance Dispute Regarding Expense Provisions
13 June 2018
Carlton Fields
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This case was previously reported by us on
April 30, 2018. As we previously reported, on March 20, 2018, a
New York federal court largely denied the motions for summary
judgment of both plaintiff, Utica, and defendant, Munich Re,
finding that the expense provisions in the facultative certificates
at issue were ambiguous and that extrinsic evidence was not
submitted by the parties. Utica made a motion for reconsideration.
In denying the motion, the court rejected Utica's argument that
extrinsic evidence was presented on the ambiguity found by the
court in the facultative certificates. The court noted that the
evidence noted by Utica "would in no way alter the conclusion
the Court previously reached on this matter" and also that
Utica failed to show that reconsideration was required.
Utica Mut. Ins. Co. v. Munich Reins. Am.,
Inc., Nos. 12-cv-00196; 12-cv-00743 (USDC N.D.N.Y. May 23,
2018).
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