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Silence is golden: reinsurer ordered to pay prejudgment interest to insurance company’s liquidator on agreement silent as to interest

  • Carlton Fields Jorden Burt
  • -
  • USA
  • -
  • March 3 2014

A New Hampshire insurance company, Home Insurance Company ("Home"), was placed in liquidation in 2003. When its reinsurer Century Indemnity Company

Financial ruin and the duty to settle within policy limits

  • Kilpatrick Townsend & Stockton LLP
  • -
  • USA
  • -
  • October 17 2013

A liability insurance company has the right to take over the defense of a policyholder and to control all settlement discussions. What happens if the

A warning to financial institutions: failure to issue a litigation hold may have serious consequences

  • Frost Brown Todd LLC
  • -
  • USA
  • -
  • May 3 2013

As electronic discovery has become more prevalent and voluminous, national standards for the preservation of evidence have evolved dramatically in

Claims bar dates impending for Atlantic Mutual, Centennial, HIH and Nassau Insurance Companies

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • July 31 2013

Several insurers in liquidation proceedings have upcoming claims bar dates: The liquidator for Atlantic Mutual Insurance Company and Centennial

A guide to surviving the Lumbermens rehabilitation & liquidation

  • Dentons
  • -
  • 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

“Covered or not covered: that is the question” - a discussion of directors & officers insurance coverage issues

  • Chadbourne & Parke LLP
  • -
  • USA
  • -
  • May 23 2011

It is important that directors and officers insurance provide the necessary protections

Creditor defeats preference action based on ‘new value’ defense

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

As a condition to issuing a surety bond, the insurer required the insured to obtain a Letter of Credit in favor of the insurer. To obtain the LOC, the

Granite Re entitled to pre- and post-judgment interest in bankruptcy action

  • Jorden Burt LLP
  • -
  • USA
  • -
  • March 10 2011

Following a $9 million judgment in its favor, Granite Re was further awarded pre- and post-judgment interest on that judgment

Priority of payments provision allows insurer to make settlement payments on covered claims against directors and officers

  • Wiley Rein LLP
  • -
  • USA
  • -
  • October 25 2012

The United States Bankruptcy Court for the District of Nebraska has held that an insurer may make settlement payments for claims against a debtor’s directors and officers where any claims of the debtor are subordinate to those of the directors and officers under the terms of the policy

Delaware Supreme Court holds that dissolution statutes do not extinguish a dissolved corporation’s potential liability to third parties

  • Cahill Gordon & Reindel LLP
  • -
  • USA
  • -
  • December 13 2013

The Delaware Supreme Court recently offered new insight into a dissolved corporation's exposure to liability for third party claims. In Anderson v