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USA - July 2 2012
In response to the July 2, 2012 Order of Rehabilitation, and an anticipated Order of Liquidation, against Lumbermens Mutual Casualty Company and American Manufacturers Mutual Insurance Company, we have prepared the following “frequently asked questions” guide summarizing issues related to: (i) the financial regulation of insurance companies; (ii) the liquidation and proof of claim process in Illinois; (iii) potential recovery by policyholders of the amount of “covered” workers’ compensation claims from state guaranty associations; (iv) policyholder collateral; and (v) planning a response to the Lumbermens liquidation.
USA - February 4 2010
On December 11, 2009, the Internal Revenue Service released two substantially identical Private Letter Rulings, PLRs 200950016 and 200950017, which approve the use of a captive reinsurance arrangement involving a fronting insurer.
USA - February 4 2010
In response to an imminent Order of Liquidation against the Kemper Insurance Companies, we have prepared the following "frequently asked questions" guide summarizing issues related to: (i) the financial regulation of insurance companies; (ii) the liquidation and proof of claim process in Illinois; (iii) potential recovery by policyholders of the amount of "covered" workers' compensation claims from state guaranty associations; (iv) policyholder collateral; and (v) planning a response to the Kemper liquidation.
USA - September 16 2009
On Wednesday, September 9, 2009, the U.S. House of Representatives unanimously approved the Nonadmitted and Reinsurance Reform Act of 2009 (the "NRRA").
