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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