Parties to reinsurance arbitrations often file in court to confirm (or vacate) arbitral awards. Some file even though the adverse party has complied with the arbitration award. When doing so, they invariably invoke the confidentiality agreement in the proceeding to seal the award and other related documents used in the petition to confirm. Must the court confirm and must the court seal the documents? We have seen this movie before.
In General Re Life Corp. v. American General Life Insurance Co., No. 23-cv-05219(ALC) (S.D.N.Y. Mar. 28, 2024), the reinsurer brought a petition to confirm an arbitration award arising out of a Yearly Renewable Term (“YRT”) reinsurance rate increase dispute and both parties sought to seal exhibits and portions of the petition to confirm.
