Topic: Insolvency, Restructuring and Run-Off
HM Treasury Publishes Responses Regarding its Part 7 Scheme Consultation
Apr 15, 2008 | Insolvency, Restructuring and Run-Off, Lloyd's, Regulatory | United Kingdom
UK House of Lords’ Ruling Assists Foreign Liquidators
Apr 10, 2008 | Insolvency, Restructuring and Run-Off | United Kingdom
Insurance Insolvencies in the United States Reach a 10-Year Low
Apr 8, 2008 | Industry Developments, Insolvency, Restructuring and Run-Off | United States
A recent report by Standard & Poor’s (“S&P”) noted that the number of U.S. insurers placed under regulatory supervision in 2007 was the lowest in a decade. The report attributes a decrease in insolvencies among property casualty insurers to, among other things, a mild hurricane season combined with better underwriting and an improved premium rate environment.
Read MoreSecond Circuit Rules Bankruptcy Court Cannot Enjoin All Claims Against Insurer
Feb 26, 2008 | Asbestos, Insolvency, Restructuring and Run-Off | United States
Non-Signatory Compelled to Arbitrate Claims Against Reinsurer
Jan 30, 2008 | Arbitration, Insolvency, Restructuring and Run-Off, Reinsurance | United States
Report Published on Insurance Guarantee Schemes in the European Union
Jan 15, 2008 | Industry Developments, Insolvency, Restructuring and Run-Off, Regulatory | European Union, United Kingdom
On 7 January 2008 the European Commission made public a report it had commissioned on Insurance Guarantee Schemes (IGS) in the European Union. IGSs provide last-resort protection for policyholders in situations where insurers are unable to provide cover, usually due to their insolvency. They are commonly financed from levies on the insurance industry.
Read MoreFlorida Regulators Reach Settlement with Universal Health Care Insurance Company
Jan 2, 2008 | Florida Developments, Insolvency, Restructuring and Run-Off, Regulatory | United States
Missouri District Court Rules That Suit Against Insurer in Liquidation Can Proceed in Federal Court
Dec 28, 2007 | Arbitration, Insolvency, Restructuring and Run-Off, Reinsurance | United States
In Midwest Employers Cas. Co. v. Legion Ins. Co. (In Liquidation), No. 4:07CV870 CDP (E.D. Mo. Nov. 7, 2007), Midwest Employers Casualty Company (“MECC”) sought a declaration that the demand for arbitration from Legion Insurance Company under forty-three reinsurance contracts that did not contain arbitration clauses was null and void.
Read MoreLandmark Victory For Reinsurers of Insolvent Integrity Insurance Company
Dec 27, 2007 | Industry Developments, Insolvency, Restructuring and Run-Off, New Jersey Developments, Reinsurance | United States
In a matter of first impression under New Jersey law that potentially impacts both the reinsurance and insurance industry and policyholders of insolvent insurance companies, the New Jersey Supreme Court affirmed the appellate division’s ruling that the Fourth Amended Final Dividend Plan (the “FDP”) proposed by the Liquidator for Integrity Insurance Company (“Integrity”) should not be approved because it unlawfully allowed incurred but not reported (“IBNR”) claims to share in the insolvent insurer’s estate.
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