Judge OKs Estate’s Payment Of $240 Million To State Insurance Guarantor

(March 22, 2016, 11:03 AM EDT) -- HARRISBURG, Pa. — A Pennsylvania judge on March 10 approved a liquidator’s recommendation of paying nearly $240 million to a state’s insurance guaranty association (In re: Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).

(Order available. Document #10-160325-029R.)

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

Teresa D. Miller, Pennsylvania’s current insurance commissioner, asked the court on Feb. 4, 2016, for approval of a report and...
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