Insolvency Fund, Bank Argue Over Attempt To Recoup Workers’ Compensation Money
(September 16, 2016, 2:26 PM EDT) -- BOSTON — The Massachusetts Insurers Insolvency Fund and a bank argued before the state’s high court during oral arguments on Sept. 8 whether the fund can recover from the bank money paid to a bank employee after the bank’s workers’ compensation insurer was deemed insolvent (Massachusetts Insurers Insolvency Fund v. Berkshire Bank, No. SJC-12019, Mass. Sup.).
The Massachusetts Insurers Insolvency Fund sued Berkshire Bank in the Suffolk County, Mass., Superior Court on July 14, 2014, alleging that Berkshire is a “high net worth insured” as defined...