Liquidator Asks Court To OK $15.9 Million Reinsurance Commutation Agreement

(August 19, 2015, 12:17 PM EDT) -- HARRISBURG, Pa. — The liquidator of an insolvent insurer on Aug. 18 asked a Pennsylvania court to approve a nearly $16 million commutation payment from a reinsurer of certain workers’ compensation, general liability and automobile liability policies (In re: Reliance Insurance Co. in liquidation, No. 1 REL 2001, Pa. Cmwlth.).

(Liquidator’s application for approval of commutation, settlement and release available. Document #10-150828-018X.)

The Pennsylvania Commonwealth Court declared Reliance Insurance Co. insolvent on Oct. 3, 2001, and appointed the state’s insurance commissioner as liquidator.

Teresa Miller, Pennsylvania’s...
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