(United States Second Circuit) - In an dispute involving the extent to which a reinsurance company is obligated to reinsure an indemnity company pursuant to certain reinsurance certificates,in which the district court granted summary judgment to the reinsurance company and declared that the dollar amount stated in the 'Reinsurance Accepted' section of certain reinsurance certificates unambiguously caps the maximum amount that the reinsurance company can be obligated to pay the indemnity company for 'losses' and 'expenses' combined, an vital question is certified to the fresh York Court of Appeals.
Source: findlaw.com