Topic: Insolvency, Restructuring and Run-Off
Third party claims: A decision of the High Court clarifies the law with regard to claims under the Third Party (Rights against Insurers) Act 1930
Dec 20, 2007 | Coverage & Claims, Insolvency, Restructuring and Run-Off | United Kingdom
Insolvency: Highlands Insurance Company (UK) Limited
Dec 20, 2007 | Insolvency, Restructuring and Run-Off | United Kingdom
Spitzer, NYLB Announce Proposed Resolution of Projected Shortfall in Executive Life Insurance Company of New York Rehabilitation
Dec 6, 2007 | Insolvency, Restructuring and Run-Off, Life Insurance & Annuities, New York Developments | United States
New York Decision on NYLB Prohibits Comptroller Audit, Expounds on Private Role of Liquidator
Dec 3, 2007 | Insolvency, Restructuring and Run-Off, New York Developments | United States
After a lengthy legal battle between New York’s Comptroller and the Superintendent of Insurance, New York’s highest court has held that the Comptroller may not exercise its audit powers over the New York Liquidation Bureau (NYLB) and may not audit funds/assets under the NYLB’s control.
Read MoreNew York State Court to Determine Whether Distribution from Insolvent Union Indemnity Estate Should be Permitted
Nov 12, 2007 | Insolvency, Restructuring and Run-Off, New York Developments, Reinsurance | United States
Recently, a New York state court gave the New York Liquidation Bureau (“NYLB”) permission to notify more than 300,000 creditors of Union Indemnity Insurance Company (“Union Indemnity”) that it plans to make the first distribution from the insolvent property casualty insurer’s estate.
Read MoreNational Insurance Act/Optional Federal Charter Legislation Reintroduced in House
Jul 30, 2007 | Industry Developments, Insolvency, Restructuring and Run-Off | United States
Following up on our post last month, on July 24, 2007, a bipartisan optional federal charter (OFC) bill was proposed in the House by Reps. Melissa Bean (D-IL) and Ed Royce (R-CA), serving as a companion bill to the previously-filed Senate version, both of which are entitled the National Insurance Act of 2007.
Read MoreMassachusetts Insurers Insolvency Fund Not Implicated Until Uninsured Motor Vehicle Coverage Is Exhausted
Jul 27, 2007 | Coverage & Claims, Insolvency, Restructuring and Run-Off, Massachusetts Developments | United States
Florida Insurer’s Removal of Receivership Proceeding to Federal Court Under Review
Jun 28, 2007 | Insolvency, Restructuring and Run-Off | United States
National Insurance Act/Optional Federal Charter Legislation Reintroduced in Senate
Jun 6, 2007 | Excess and Surplus Lines, Federal Legislative Developments, Insolvency, Restructuring and Run-Off, Regulatory | United States