Judge Says Special Deposit Cannot Be Used To Pay Guarantor Expenses

(March 24, 2017, 7:20 AM EDT) -- CHICAGO — An Illinois judge on March 22 sustained an insurance guaranty association’s objection, finding that an insolvent insurer’s special deposit cannot be used to pay the guaranty association’s general administrative expenses (People of the State of Illinois, ex rel. Andrew Boron, Director of Insurance of the State of Illinois v. Lumbermens Mutual Casualty Co., No. 12-24227, Ill. Cir., Cook Co.)....

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