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After Months of Uncertainty, NY DFS Petitions to Place Health Republic Insurance of New York in Liquidation
  • Bressler, Amery & Ross PC
  • USA
  • April 25 2016

On April 22, 2016, the Superintendent of the New York Department of Financial Services ("DFS") commenced a liquidation proceeding for Health Republic

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

Please Buckle Your Seatbelts and Check Your D&O Insurance: A Gloomy Forecast Is Ahead
  • Weil Gotshal & Manges LLP
  • USA
  • April 18 2016

Despite the initial glee of the prospect of a United States that was independent of Middle East oil, beginning in the fourth quarter of 2014, the

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

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

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

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

“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

Solvent run-off schemes in the United States: the Rhode Island statute and current challenges
  • Foley & Lardner LLP
  • USA
  • March 21 2011

On March 16, 2011, a Rhode Island Superior Court heard arguments on whether Rhode Island's solvent restructuring statute violates the Contracts Clause of the U.S. Constitution

Federal-Mogul court confirms that bankruptcy law trumps anti-assignment provisions in insurance policies
  • Cadwalader Wickersham & Taft LLP
  • USA
  • July 18 2012

On May 1, 2012, the United States Court of Appeals for the Third Circuit in In re FederalMogul Global, Inc. confirmed that anti-assignment provisions in a debtor’s insurance liability policies are preempted by the Bankruptcy Code to the extent they prohibit the transfer of a debtor’s rights under such policies to a personal-injury trust pursuant to a chapter 11 plan