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Preview: LexisNexis® Mealey's™ Insurance Insolvency Legal News

LexisNexis® Mealey's™ Insurance Insolvency Legal News



Headline Insurance Insolvency Legal News from LexisNexis®



 



Judge Approves $975,000 Settlement In Favor Of Insolvent Insurer
AUSTIN, Texas - A Texas judge on Feb. 16 approved the request of an insolvent insurer's special deputy receiver (SDR) for the court to allow the SDR to enter into a settlement under which an accounting firm agrees to pay the estate nearly $1 million (The State of Texas v. Austin Indemnity Lloyds Insurance Company and Austin Indemnity Management Company LLC, No. D-1-GV-08-2766, Texas, 353rd Dist., Travis Co.).



Judge Authorizes Liquidator To Pay Portion Of Homeowner Class Claim
CHICAGO - An Illinois judge on March 14 approved a liquidator's recommendation of a payment to a class of homeowners that won a construction defect lawsuit against a group of developers insured by an insolvent insurer (In the matter of the liquidation of Legion Indemnity Co., No. 02 CH 06695, Ill. Cir., Cook Co., Chanc. Div.).



Judge Approves Rate Of Compensation For Party-Appointed Arbitrator
CHICAGO - An Illinois judge on Feb. 16 approved the rate of pay for an arbitrator representing an insolvent insurer in a dispute with three reinsurers (In the matter of the liquidation of Legion Indemnity Co., No. 02 CH 06695, Ill. Cir., Cook Co., Chanc. Div.).



Texas Judge Approves Claim Recommendations Of Insolvent Insurer
AUSTIN, Texas - A Texas judge on Feb. 16 authorized the special deputy receiver (SDR) of an insolvent insurer to make payments to certain states' insurance guaranty associations (The State of Texas and the Texas Department of Insurance v. Vesta Fire Insurance Corporation, et al., No. D-1-GN-002366, Texas Dist., Travis Co.).



Judge Finds Jurisdiction Lacking In Insolvent Insurer's Suit Over ACA Payments
ST. LOUIS - An insolvent insurer's suit against the government over its handling of the Patient Protection and Affordable Care Act (ACA) risk corridor and how it offset debts properly belongs before the U.S. Court of Federal Claims, a federal judge in Iowa said March 17 in finding that she lacked jurisdiction and entering judgment (Nick Gerhart, et al. v. United States Department of Health and Human Services, et al., No. 16-151, S.D. Iowa, 2017 U.S. Dist. LEXIS 37620).



Government: Jurisdiction Ruling Moots Liquidators' Appeal In ACA Assets Case
ST. LOUIS - A judge's finding that she lacks jurisdiction over a suit involving the proper handling of Patient Protection and Affordable Care Act (ACA) assets moots an insolvent insurer's liquidators' interlocutory appeal challenging a ruling denying them a preliminary injunction, the government told the Eighth Circuit U.S. Court of Appeals on March 17 (Nick Gerhart, et al. v. United States Department of Health and Human Services, et al., No. 16-3477, 8th Cir.).



Services Provider: Liquidator Of Insolvent Insurer Is Subverting Court's Powers
FRANKFORT, Ky. - An insurance administrative services company asked a federal court in Kentucky on Feb. 22 to enjoin an insolvent insurer's liquidator from bringing claims against it in an allegedly similar state court action (H. Brian Maynard, Liquidator of Kentucky Health Cooperative, Inc. v. CGI Technologies and Solutions, Inc., No. 16-cv-00037, E.D. Ky.).



Judge Approves Actions Of Special Deputy Receiver With Disallowance Of Claim
AUSTIN, Texas - A Texas judge on March 2 approved the disallowance of a homeowner's foundation damage claim filed with the estate of an insolvent insurer (The State of Texas and the Texas Department of Insurance v. Vesta Fire Insurance Corporation, et al., No. D-1-GN-002366, Texas Dist., Travis Co.).



Judge Releases Liquidator Of Further Responsibilities In Liquidation
HARRISBURG, Pa. - Following the final distribution of an insolvent insurer's assets, a Pennsylvania judge on March 8 released the state's insurance commissioner of her duties regarding the liquidation estate (In re: Commonwealth Insurance Co., No. 1 CIC 2014, Pa. Cmwlth.).



Judge Approves Liquidator's Report On Undisputed Claims
HARRISBURG, Pa. - A Pennsylvania judge on March 13 approved the liquidator of an insolvent insurer's report and recommendation and ordered that claimants are eligible to receive payment upon the next relevant distribution of liquidation estate assets (In re: Legion Insurance Company [In Liquidation], No. 1 LEG 2002, Pa. Cmwlth.).



Judge Orders Conversion Of Rehabilitation Of Insolvent Insurer Into Liquidation
HARRISBURG, Pa. - A Pennsylvania judge on March 1 ordered the end of an insolvent insurer's rehabilitation and beginning of a liquidation proceeding (In re: American Network Insurance Company in Rehabilitation, Nos. 1 ANI 2009, Pa. Cmwlth.).



Judge Orders Liquidation Of Insolvent Pennsylvania Insurer
HARRISBURG, Pa. - A Pennsylvania judge on March 1 ordered the liquidation of an insolvent insurer that had been in rehabilitation since 2009 (In Re: Penn Treaty Network America Insurance Company in Rehabilitation, No. 1 PEN 2009, Pa. Cmwlth.).



Judge Approves Final Notification Of Liquidation Status To Claimants
HARRISBURG, Pa. - A Pennsylvania judge on March 9 authorized the liquidator of an insolvent insurer to notify claimants of the liquidation's final accounting, distribution and discharge (In re: First Sealord Surety, Inc., In Liquidation, No. 1 FSS 2012, Pa. Cmwlth.).



Judge Approves Rate Of Pay For Liquidation Internal Auditor
CHICAGO - An Illinois judge on March 16 approved the rate of compensation for an internal auditor of an insolvent insurer's liquidation proceeding (People of the State of Illinois, ex rel. Andrew Boron, Director of Insurance of the State of Illinois v. Lumbermens Mutual Casualty Co., No. 12-24227, Ill. Cir., Cook Co.).



Judge Approves Agreement That State Return Special Deposit To Liquidation Estate
HARRISBURG, Pa. - A Pennsylvania judge on March 13 approved an agreement between the state's insurance commissioner and her counterpart in New Mexico for the return of a statutory deposit that an insolvent insurer made in that state (In re: Lincoln General Insurance Company In Liquidation, No. 1 LIN 2015, Pa. Cmwlth.).



Judge Says Liquidation Estate May Pay Insurance Guarantor Expenses
AUSTIN, Texas - A Texas judge on Feb. 16 authorized the special deputy receiver (SDR) of an insurer in liquidation to pay from the liquidation estate the expenses of a number of states' insurance guaranty associations as they relate to claims handled by them on the insolvent insurer's behalf (The State of Texas and the Texas Department of Insurance v. Vesta Fire Insurance Corporation, et al., No. D-1-GN-002366, Texas Dist., Travis Co.).



Liquidator Seeks Approval To Pay Final Claims Of Insurance Guaranty Associations
HARRISBURG, Pa. - The liquidator of an insolvent insurer on Feb. 13 asked a Pennsylvania court to approve the payment of remaining claims of certain insurance guaranty associations, so the liquidator can move closer to ending the liquidation proceeding that began in 1991 (In re: Rockwood Insurance Co., No. 1 ROC 1990, Pa. Cmwlth.)



Liquidator Asks Court To Allow Insurance Guaranty Association To Keep Funds
HARRISBURG, Pa. - The liquidator of an insolvent insurer asked a Pennsylvania court on March 10 to approve a proposal under which a different state's insurance guaranty association will retain certain funds given to it by that state's ancillary receiver so that the liquidator will not have to make future distributions to the association (In re: Legion Insurance Company [In Liquidation], No. 1 LEG 2002, Pa. Cmwlth.).



Insolvent Insurer Says Proposed Discovery Order Reflects Court Findings
SALT LAKE CITY - An insolvent insurer told a federal court in Utah on Feb. 17 that its proposed discovery order is an accurate interpretation of the court's earlier rulings and is not worded in a way to allow it to take unfair advantage of the court's wishes (Western Insurance Company v. Dick L. Rottman, et al., No. 13-cv-00436, D. Utah).



Judge Suspends Schedule For Claimant To Support Claim In Liquidation Proceeding
CHICAGO - An Illinois judge on March 10 granted a motion to suspend the briefing schedule on a liquidator's petition so that a claimant can secure documentation in support of his workers' compensation claim (In the Matter of the Liquidation of Illinois Movers' & Warehousemen's Risk Management Group, No. 12-CH-09140, Ill. Cir., Cook Co.).



Judge Orders Rehabilitation Of Insolvent Illinois Insurers
CHICAGO - An Illinois judge on March 16 ordered the rehabilitation of a pair of insolvent insurers, noting that the insurers' directors had consented to the rehabilitation (People of the State of Illinois, ex rel., Jennifer Hammer, Director of the Illinois Department of Insurance v .Public Service Insurance Company, an Illinois domestic stock insurance company, et al., No. 2017-CH-03790, Ill. Cir., Cook Co., Chanc. Div.).



Michigan Judge Reopens Rehabilitation Proceeding After Closing It In Error
MASON, Mich. - A Michigan judge on March 15 granted a rehabilitator's petition and set aside an earlier final order closing a rehabilitation in error and ordered that the rehabilitation proceeding be reopened (Patrick McPharlin, Director of the Department of Insurance and Financial Services v. Affirmative Insurance Company of Michigan, No. 15-898-CR, Mich. Cir., Ingham Co.).



Judge Approves Request For Direct Payments From Reinsurer To Insured
HARRISBURG, Pa. - A Pennsylvania judge on March 8 approved an arrangement under which a reinsurer will make direct payments to a policyholder of an insolvent insurer (In re: Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).



Justice Approves Reinsurance Commutation Agreement Of Unspecified Amount
CONCORD, N.H. - A New Hampshire justice on March 13 approved a reinsurance commutation agreement between the liquidator of an insolvent insurer and two insolvent London-based reinsurers (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



Federal Court Clerk Certifies Alleged Reinsurer Is In Default
NEW YORK - The clerk of a federal court in New York on March 16 issued a certificate of default against a holding company that is allegedly responsible for obligations under certain facultative reinsurance contracts (Roger A. Sevigny, the Commissioner of Insurance of the State of New Hampshire, as Liquidator of The Home Insurance Company v. Trygvesta Forsikring A/S, as successor in interest to Skandinavia Insurance Company Ltd., Trygvesta Forsikring A/S v. Cerberus Holding Company, LLC., No. 16-cv-04874, S.D. N.Y.).



Liquidator Wants Reinsurer To Pay Workers' Compensation Policyholder Directly
HARRISBURG, Pa. - The liquidator of the insolvent Reliance Insurance Co. asked a Pennsylvania court on Feb. 23 to approve an agreement under which a policyholder would receive direct payments from one of Reliance's reinsurers (In re: Reliance Insurance Co. in liquidation, No. 1 REL 2001, Pa. Cmwlth.).



Judge Gives OK To Confidential Settlement Involving Insolvent Insurer
CHICAGO - An Illinois judge on Jan. 24 approved a confidential settlement agreement between the estate of an insolvent insurer and a mortgage insurer (In the Matter of the Rehabilitation of Triad Guaranty Insurance Corporation, No. 12-CH-43895, Ill. Cir., Cook Co.).



Judge Dismisses Case Against Founders Of Insolvent Insurers
AUSTIN, Texas - A Texas judge on Dec. 27 dismissed a suit in which two insolvent insurers sued the insurers' founders, directors, officers and affiliates for fraud, breach of fiduciary duty and other charges (Austin Indemnity Lloyds Insurance Company And Austin Indemnity Management Company, LLC, In Receivership v. Heartland Risk Management, LLC, et al., No. D-1-GN-12-003758, Texas, 53rd Dist., Travis Co.).



Judge Orders Former President Of Insolvent Insurer To Reveal His Assets
RENO, Nev. - A Nevada judge on Feb. 2 ordered the former president of an insolvent insurer to appear before the court for the examination of his assets regarding an order that he return $48,000 to the insolvency estate (State of Nevada, ex rel. Commissioner of Insurance, in his Official Capacity as Statutory Receiver for Delinquent Domestic Insurer v. National Guaranty Insurance Company, a Nevada Property and Casualty Company, No. CV14-00807, Nev. Cir., Washoe Co.).



Judge Denies Objection, Says Magistrate Judge's Discovery Order Was Proper
SALT LAKE CITY - A federal judge in Utah on Feb. 13 denied an insolvent insurer's objection to a magistrate judge's order compelling discovery of certain categories of information sought by a group of the insolvent insurer's former directors and officers (Western Insurance Company v. Dick L. Rottman, et al., No. 13-cv-00436, D. Utah, 2017 U.S. Dist. LEXIS 20709).



Panel Says Homeowner Sinkhole Claims Against Insolvent Insurer Are Timely
DAYTONA BEACH, Fla. - A Florida appellate panel on Feb. 10 reversed and remanded a lower court order and found that certain statutes of limitations do not apply to a case filed against an insurer before it became insolvent (Patricia Morrison v. Homewise Preferred Insurance Company and Florida Insurance Guaranty Association, No. 5D15-4312, Fla. App., 5th Dist., 2017 Fla. App. LEXIS 1648).



Judge Says Early Access Disbursement Is Necessary And Appropriate
MASON, Mich. - A Michigan judge on Dec. 24 approved a $1.4 million early access disbursement from an insolvent insurer in liquidation to the state's insurance guaranty association (Patrick McPharlin, Director of the Department of Insurance and Financial Services v. Consumers Mutual Insurance of Michigan, No. 15-948-CR, Mich. Cir., Ingham Co.).



Insurance Guarantor Waives Objection To Disallowance Of Claim
AUSTIN, Texas - The Texas Property and Casualty Insurance Guaranty Association (TPCIGA) told a Texas court on Jan. 27 that it has no objections to the disallowance of a homeowner's foundation damage claim against an insolvent insurer (The State of Texas and the Texas Department of Insurance v. Vesta Fire Insurance Corporation, et al., No. D-1-GN-002366, Texas Dist., Travis Co.).



Liquidator Asks Court To Approve Multiple Insurance Guarantor Claims
CONCORD, N.H. - The liquidator of an insolvent insurer on Feb. 2 asked a New Hampshire court to approve his recommendations for allowance of claims to various states' insurance guaranty associations and a number of reinsurers (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



In Opening Salvo, Insurer Argues ACA Mandates Yearly Risk-Corridor Payments
WASHINGTON, D.C. - The government did not make an "informed, reasoned decision" in deciding to make the Patient Protection and Affordable Care Act (ACA) risk-corridor program budget-neutral, but instead simply reneged on its promises and ignored the statutory language mandating annual payments, an insurer told a federal appeals court Jan. 31 (Land of Lincoln Mutual Health Insurance Co. v. The United States of America, No. 17-1224, Fed. Cir.).



Justice Says Settlement Of Asbestos Claim Is Reasonable And Prudent
CONCORD, N.H. - A New Hampshire justice on Dec. 20 approved a settlement agreement under which an insolvent insurer will allow a $725,000 asbestos-related claim covered by a policy written in the 1980s (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



Judge Approves Stipulation That Reinsurer Post Bond
NEW YORK - A federal judge in New York on Jan. 30 approved a stipulation and ordered a reinsurer sued by the liquidator of an insolvent insurer for breach of contract to post a security bond with the court (Roger A. Sevigny, the Commissioner of Insurance of the State of New Hampshire, as Liquidator of The Home Insurance Company v. Trygvesta Forsikring A/S, as successor in interest to Skandinavia Insurance Company Ltd., No. 16-cv-04874, S.D. N.Y.).



Liquidator Of Insolvent ACA Insurer Wants Claims Appeal Examiner Applications
NEW YORK - The liquidator of an insolvent insurer operated as a co-op under the Patient Protection and Affordable Care Act recently invited candidates for appointment of referees and medical claims examiners to review liquidation estate claim appeals (In the Matter of the Liquidation of Health Republic Insurance of New York, Corp., No. 450500/2016, N.Y. Sup., New York Co.).



Special Deputy Receiver Wants Disallowance Of Alleged Fire Loss Claim Finalized
AUSTIN, Texas - The special deputy receiver (SDR) of an insolvent insurer on Feb. 8 asked a Texas court to make final the disallowance of a claim to replace an allegedly smoke-damaged carpet that the SDR says was damaged by normal use (The State of Texas and the Texas Department of Insurance v. Vesta Fire Insurance Corporation, et al., No. D-1-GN-002366, Texas Dist., Travis Co.).



Closure Of Liquidation Proceeding Of Medical Malpractice Insurer Announced
TALLAHASSEE, Fla. - The Florida Department of Financial Services Division of Rehabilitation and Liquidation on Dec. 31 announced that it has closed the liquidation proceeding of an insolvent medical malpractice self-insurance fund (In re: The Receivership of Caduceus Self Insurance Fund, Inc., No. 2000-CA-000004, Fla. Cir., 2nd Cir., Leon Co.).



Judge Orders Termination Of Liquidation And Discharge Of Receiver
TALLAHASSEE, Fla. - A Florida judge on Dec. 20 ordered the closure of a liquidation proceeding that started in 2015 (In re: The receivership of Senior Citizens Mutual Insurance Company, No. 2005-CA-1069, Fla. Cir., 2nd Cir., Leon Co.).



Judge Orders Liquidation Of ACA Health Care Provider
TRENTON, N.J. - A New Jersey judge on Feb. 3 ordered a Patient Protection and Affordable Care Act (ACA) consumer-operated and oriented plan insurer's liquidation and appointed the state's insurance commissioner as liquidator (In the Matter of Freelancers Consumer Operated and Oriented Program of New Jersey d/b/a Health Republic Insurance of New Jersey, No. MCR-C-000063-16, N.J. Super., Mercer Co., Chanc. Div.).



Judge Orders Liquidation, Names Georgia Insurance Commissioner Liquidator
ATLANTA - A Georgia judge on Dec. 22 ordered the liquidation of an insurer that the judge said is in hazardous financial condition with a surplus below lawful levels (State of Georgia, Ex. Rel., Ralph T. Hudgens, Commissioner of Insurance of the State of Georgia v. Physicians' Alliance Health Plan Trust, No 2016-cv-283517, Ga. Super., Fulton Co.).



Conservator Asks Court To Convert Conservatorship To Liquidation
SAN FRANCISCO - California's insurance commissioner asked one of his state's courts on Feb. 17 to declare an insurer insolvent and order its liquidation (Dave Jones, Insurance Commissioner of the State of California v. CastlePoint National Insurance Company, and DOES 1-50, No. CPF-16-515183, Calif. Super., San Francisco Co.).



Special Deputy Receiver Applies With Court For Approval Of Claims Report
AUSTIN, Texas - The special deputy receiver (SDR) of a Texas insurer in receivership asked a Texas court on Jan. 26 for approval of a report of allowed and disallowed claims from various insurers and insurance guaranty associations (The State of Texas and the Texas Department of Insurance v. Vesta Fire Insurance Corporation, et al., No. D-1-GN-002366, Texas Dist., Travis Co.).



Justice Wants To Know If Liquidator Should Make Payments To Care Providers
NEW YORK - A New York justice on Jan. 24 asked interested parties for input regarding whether the liquidator of an insolvent insurer should be allowed to make direct payments to out-of-network health providers instead of making the payment to policyholders (In the Matter of the Liquidation of Health Republic Insurance of New York, Corp., No. 450500/2016, N.Y. Sup., New York Co.).



Judge Gives OK To Workers' Compensation Reimbursement Agreement
CHICAGO - An Illinois judge on Feb. 15 approved an agreement between an insolvent insurer, a town and a trust fund regarding the reimbursement of certain workers' compensation supplemental cost-of-living payments (People of the State of Illinois, ex rel. Andrew Boron, Director of Insurance of the State of Illinois v. Lumbermens Mutual Casualty Co., No. 12-24227, Ill. Cir., Cook Co.).



Succession Of Illinois Acting Director Of Insurance Announced
CHICAGO - The Illinois Department of Insurance announced Jan. 18 that it has a new acting director who has taken over as the rehabilitator or liquidator of a number of insolvent Illinois insurers (In the Matter of the Liquidation of The Administrative Employer Group, Inc., No. 07-CH-23319, In the Matter of the Liquidation of Affirmative Insurance Company, 15-CH-13718, In the Matter of the Liquidation of Lumbermens Mutual Casualty Company, No. 12-CH-24227, In the Matter of the Liquidation of Illinois Restaurant Risk Management Association, No. 11-CH-40307, In the Matter of the Rehabilitation of Illinois State Bowling Proprietors & Recreational Industry Workers' Compensation Trust, No. 11-CH-36870, In the Matter of the Liquidation of Interstate Bankers Casualty Company, No. 14-CH-6395, In the Matter of the Liquidation of Land of Lincoln Mutual Health Insurance Co., No. 16-CH-09210, In the Matter of the Liquidation of Legion Indemnity Company, No. 02-CH-06695, In the Matter of the Rehabilitation of Millers Classified Insurance Company, No. 15-CH-00885, In the Matter of the Rehabilitation of Millers First Insurance Company, No. 12-CH-21255, In the Matter of the Rehabilitation of Polish Women's Alliance of America, No. 14-CH-14340, In the Matter of the Liquidation of Reinsurance Company of America, No. 10-CH-06207, In the Matter of the Rehabilitation of Triad Guaranty Insurance Corporation and Triad Guaranty Assurance Corporation, No. 12-CH-43895, Ill. Cir., Cook Co., Chancery Div.).



Liquidator Asks Court To Approve Direct Payments From Reinsurer To Insured
HARRISBURG, Pa. - The liquidator of an insolvent insurer asked a Pennsylvania court on Feb. 3 to approve a cut-through arrangement by which a reinsurer will make direct payments to an insured, leaving the liquidation estate out of the transactions (In re: Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).



Assignee Asks 7th Circuit To Reverse Lower Court Finding Regarding Timeliness
CHICAGO - The assignee of certain reinsurance receivables rights challenging a lower court's finding that its claims against a reinsurer are untimely told the Seventh Circuit U.S. Court of Appeals on Jan. 31 that the lower court erred, among other reasons, because it issued a summary judgment on allegedly disputed issues of material fact (Pine Top Receivables of Illinois, LLC v. Banco De Seguros Del Estado, No. 16-3499, 7th Cir.).



Liquidator Wants Reinsurance Commutation Agreement Approved
CONCORD, N.H. - The liquidator of an insolvent insurer on Feb. 6 asked a New Hampshire court to approve a confidential reinsurance commutation agreement with two London based reinsurers (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



Judge Approves Reinsurance Commutation Agreement For Insolvent Insurer
CHICAGO - An Illinois judge on Feb. 16 approved the commutation of certain reinsurance contracts covering third-party construction defect claims in an agreement between a reinsurer and an insolvent insurer (In the matter of the liquidation of Legion Indemnity Co., No. 02 CH 06695, Ill. Cir., Cook Co., Chanc. Div.).



Justice Approves Reinsurance Commutation Agreement For Insolvent Insurer
CONCORD, N.H. - A New Hampshire justice on Feb. 10 approved an insolvent insurer's reinsurance commutation agreement, which involves the insolvent insurer as both reinsurer and reinsured (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



Judge Approves Merger Of Insolvent, Solvent Insurers
CHICAGO - An Illinois judge on Dec. 16 approved the merger of an insolvent insurer with a solvent insurer to protect the life insurance policy, annuity and pension obligations of the insolvent insurer (In the Matter of the Rehabilitation of Polish Women's Alliance of America, No. 14-CH-14340, Ill. Cir., Cook Co., Chanc. Div.).



Justice Orders Liquidation Of 52-Year-Old Insurance Company
NEW YORK - A New York justice on Dec. 21 ord00ered an accident and health insurer that had once operated in 40 states into liquidation (In the Matter of the Application of Maria T. Vullo, Superintendent of Financial Services of the State of New York, for an order to take possession and liquidate the business and affairs of American Medical and Life Insurance Company, No. 452041/2016, N.Y. Sup., New York Co.).



Justice Orders Termination Of Insurance Insolvency Liquidation Proceeding
NEW YORK - A New York justice on Dec. 23 granted a liquidator's request and ordered the end of the liquidation proceeding of an insolvent insurer (In the Matter of the Liquidation of Long Island Insurance Company, No. 400106/11, N.Y. Sup., New York Co.).



Judge Reopens Liquidation Proceeding That Was Dismissed For Want Of Prosecution
CHICAGO - An Illinois judge on Jan. 4 reopened a liquidation proceeding that had been closed when no one from the liquidator's office had appeared at a liquidation status hearing (In the Matter of the Liquidation of the Administrative Employer Group, Inc. and The Liquidation of Employer's Consortium V, Inc., No. 07-CH-23319, Ill. Cir., Cook Co., Chancery Div.).



Judge Approves Sale Of Building Owned By Insolvent Insurer
CHICAGO - An Illinois judge on Jan. 17 approved the sale of an insolvent insurer's office building to a property company for $900,000 (In the Matter of the Rehabilitation of Millers First Insurance Company, No. 12-CH-21255, Ill. Cir., Cook Co.).



Judge Approves Payments To Settle Lawsuit And Claim Against Insolvent Insurer
MASON, Mich. - A Michigan judge on Dec. 22 approved the recommendations of the liquidator of an insolvent insurer to settle a lawsuit and claim brought against the insurer's rehabilitation estate (Patrick McPharlin, Director of the Department of Insurance and Financial Services v. Affirmative Insurance Company of Michigan, No. 15-898-CR, Mich. Cir., Ingham Co.).



Judge Allows Environmental Property Damage Claims Against Insolvent Insurer
CONCORD, N.H. - A New Hampshire judge on Dec. 20 approved the recommendation of the liquidator of an insolvent insurer, allowing an agreement with an insured under which the insolvent insurer will pay $125,000 to a company regarding asserted environmental property damage claims (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



Judge OKs $140M Net Allowed Amount Recommendation For State Insurance Guarantors
HARRISBURG, Pa. - A Pennsylvania judge on Jan. 18 approved the recommendation of the liquidator of an insolvent insurer to cover the obligations of certain state insurance guaranty associations (In re: Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).



Judge Certifies Class In Insurer's ACA Risk-Corridor Suit
WASHINGTON, D.C. - A federal judge hearing a case over the alleged failure to pay monies owed under the Patient Protection and Affordable Care Act (ACA) risk corridor on Jan. 3 granted an insurer's class certification motion, saying the United States' lack of opposition does not waive future rights to seek decertification or subclasses as appropriate (Health Republic Insurance Co. v. The United States of America, No. 16-259, Fed. Clms.).



Judge Grants Unopposed Motion Seeking Stay Of ACA Risk-Corridor Lawsuit
WASHINGTON, D.C. - A federal judge on Dec. 14 granted an unopposed motion by the United States of America to stay proceedings challenging the government's failure to make annual payments under the Patient Protection and Affordable Care Act (ACA) risk-corridor program (Alliant Health Plans Inc. v. The United States, No. 16-1491, Fed. Clms.).



Action Seeks To Enjoin Improper Offsets, Not Money, Insurer Argues
ST. LOUIS - The government improperly submitted a claim in a bankruptcy while offsetting the same money it claims entitlement to against $130 million in debts it owes under the Patient Protection and Affordable Care Act (ACA), a now-defunct insurance company told the Eighth Circuit U.S. Court of Appeals on Dec. 12 (Nick Gerhart, et al. v. United States Department of Health and Human Services, et al., No. 16-3477, 8th Cir.).



Insurer May Pursue ACA Risk-Corridor Action, Federal Judge Says
WASHINGTON, D.C. - The Patient Protection and Affordable Care Act (ACA)'s risk-corridor program is a money-mandating source of law that requires annual payment, a federal judge held Jan. 10 in denying a motion to dismiss an insurer's action seeking declaratory judgment that the government owes it millions of dollars under the program (Health Republic Insurance Co. v. The United States of America, No. 16-259, Fed. Clms.).



Policyholder Committee Gives Court Its View On Restructuring Plan
HARRISBURG, Pa. - A committee representing policyholders of two insolvent insurers told a Pennsylvania court on Jan. 4 that it does not oppose the rehabilitator's plan to restructure policies but that it has reservations regarding any changes to existing claims administration procedures (In Re: Penn Treaty Network America Insurance Company in Rehabilitation and In re: American Network Insurance Company in Rehabilitation, Nos. 1 PEN 2009 & 1 ANI 2009, Pa. Cmwlth.).



Liquidator Of Insolvent Insurer Asks For Reinsurance Commutation Agreement OK
CONCORD, N.H. - The liquidator of an insolvent insurer asked a New Hampshire court on Dec. 16 to approve a reinsurance commutation agreement that will provide an undisclosed net settlement sum to the liquidation estate (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).



Insolvent Insurer Makes 100 Percent Distribution To Administrative Claimants
TALLAHASSEE, Fla. - The liquidator of a Florida insurer that was rendered insolvent because of a large number of hurricanes making landfall in the state said it made a nearly $5 million distribution on Jan. 9, paying all of the administrative claims against the liquidation estate (In re Atlantic Preferred Insurance Company, No. 2006-CA-001083, Fla. Cir., 2nd Cir., Leon Co.).



Directors, Officers Policy Does Not Cover FDIC's Claims, Majority Says, Reverses
PASADENA, Calif. - A majority of the Ninth Circuit U.S. Court of Appeals on Jan. 10 found that a directors and officers liability insurance policy unambiguously excludes from coverage the Federal Deposit Insurance Corp.'s negligence, gross negligence and breach of fiduciary duty claims against a failed bank's former directors and officers, reversing and remanding a lower court (Federal Deposit Insurance Corporation, as Receiver for Security Pacific Bank v. BancInsure, Inc., No. 14-56132, 9th Cir.; 2017 U.S. App. LEXIS 452).



Special Deputy Receiver Wants Approval Of Settlement With Accounting Firm
AUSTIN, Texas - The special deputy receiver (SDR) of two insurance companies in liquidation asked a Texas court on Jan. 9 to approve a settlement agreement under which an accounting firm will pay the liquidation estate $975,000 (The State of Texas v. Austin Indemnity Lloyds Insurance Company and Austin Indemnity Management Company LLC, No. D-1-GV-08-2766, Texas, 353rd Dist., Travis Co.).



Assignee Says Lower Court Erred When It Said Statute Of Limitations Expired
CHICAGO - The assignee of certain reinsurance recoverables of an insolvent insurer contends in a Dec. 15 brief to the Seventh Circuit U.S. Court of Appeals that the statute of limitations of a breach of contract claim accrues differently when the reinsured is an insurer in liquidation (Pine Top Receivables of Illinois, LLC v. Banco De Seguros Del Estado, No. 16-3499, 7th Cir.).