ROM Reinsurance Management Co. v. Continental Ins. Co., No. 654480/12 (N.Y. Sup. Ct., N.Y. Co. Jul. 29, 2013).
A New York State motion court denied a reinsurer’s motion to reargue an earlier denial of a petition to stay arbitration because of a time bar and also denied the cedent’s cross-motion to appoint an arbitrator. In our June 2013 Reinsurance Newsletter we discussed the ruling on the statute of limitations. No new ground is broken on the denial of the motion to reargue.
In denying the cross-motion to appoint an arbitrator, the court found that there was no basis to intervene in the appointment process because the reinsurer only refused to appoint an arbitrator because of the pending motion. Now that the motion has been resolved, stated the court, the reinsurer was to proceed with the selection process provided by the reinsurance agreement.