We recently blogged about the Second Circuit's decision in Arrowood Surplus Lines Ins. Co. v. Westport Ins. Corp., No. 10-cv-0397 (2d Cir. 2010), in which an appellate panel held that a reinsurer had no obligation to indemnify its cedent for losses outside the scope of the treaty at issue. Click here to review a copy of that blog post.
The cedent, Arrowood, filed a petition for a rehearing of the Second Circuit's decision or, in the alternative, for a rehearing en banc (i.e., before all of the judges that sit on the U.S. Court of Appeals for the Second Circuit). Recently, that petition was denied. Click here to review a copy of the Second Circuit's most recent Order in this case.