Judge OKs Plan For Reinsurer To Make Direct Payments To Insured

(January 11, 2016, 1:14 PM EST) -- HARRISBURG, Pa. — A Pennsylvania judge on Jan. 7 approved a plan under which a reinsurer would pay reinsurance proceeds directly to certain of an insolvent insurer’s insureds (In re: Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).

(Order available. Document #10-160129-008R.)

Reliance Insurance Co. was ordered into liquidation by the Pennsylvania Commonwealth Court on Oct. 3, 2001, and the court appointed the state’s insurance commissioner as liquidator.

Teresa D. Miller, Pennsylvania’s current insurance commissioner, asked the court on Nov. 17, 2015, to...
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