Certain Underwriters at Lloyd’s of London petitioned the U.S. District Court for the District of Massachusetts to confirm an award issued by a three-member panel in an arbitration against Transport Insurance Company. The arbitration involved aggregation and allocation disputes related to certain billings submitted by Transport to Underwriters under various excess of loss reinsurance treaties. In 2014, the panel issued an interim award that imposed prospective obligations on the parties. Thereafter, a dispute arose between them regarding a revised billing submitted by Transport, resulting in the issuance of a final award that incorporated the panel’s interim ruling by reference. Underwriters moved to confirm under Section 9 of the Federal Arbitration Act, and, specifically, Chapter 2 of that Act, 9 U.S.C. §§ 201-208, which provides for enforcement of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (and applied, as the arbitration involved UK syndicates). The District Court granted Underwriter’s motion and entered judgment consistent with the final award. Certain Underwriters at Lloyd’s, London v. Transport Insurance Co., No. 1:15-cv-12313 (USDC D. Mass. Nov. 20, 2015).
This post written by Rob DiUbaldo.
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