7th Circ. Sides With Underwriters In Asbestos Claims Fight
By Caroline Simson (August 23, 2021, 9:37 PM EDT) -- The Seventh Circuit has refused to vacate an interim order issued by an arbitral tribunal barring future billings to Lloyd's of London underwriters under certain reinsurance policies covering asbestos losses, ruling Monday that the parties' contract gave the arbitrators a broad mandate.
Rejecting the appeal launched by Continental Casualty Co. and Continental Insurance Co., the Seventh Circuit panel's three judges concluded that they had "no trouble" seeing how the arbitrators in the case might have thought that they should not only decide a question relating to a billing dispute between the parties, but also what it meant for the future....
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