Judge Says Liquidator May Settle Long-Tail Claims Before They Are Resolved

(June 16, 2016, 7:25 AM EDT) -- HARRISBURG, Pa. — A Pennsylvania judge on June 10 granted the liquidator of an insolvent insurer’s request to be allowed to resolve certain long-tail claims before those claims reach final resolution in what could be the far future (In re: Reliance Insurance Company in Liquidation, No. 1 REL 2001, Pa. Cmwlth.).

(Order available. Document #10-160624-032R.)

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

Pennsylvania’s insurance commissioner and Reliance’s...
To view the full article, register now.