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Mealey's Insurance Insolvency

  • August 17, 2018

    Insurer’s Liquidator Says Depositions Scheduled In Reinsurance Lawsuit

    NEW YORK — The liquidator for Home Insurance Co. in an Aug. 8 letter to a New York federal judge says that depositions are set to begin in a dispute over reinsurance proceeds allegedly owed to the insolvent insurer under three facultative reinsurance certificates (Roger A. Sevigny v. Trygvesta Forsikring A/S, Trygvesta Forsikring A/S v. Cerberus Holding Company LLC, No. 16-04874, S.D. N.Y.).

  • August 17, 2018

    Justice Upholds Severance Of Third-Party Actions From Main Personal Injury Suit

    NEW YORK — Severance of third-party actions from a worker’s personal injury lawsuit remains warranted, a New York trial justice ruled Aug. 6 despite arguments that an automatic stay existed stemming from an insolvent insurer’s liquidation order (Ahmed Drir v. U-9 Restaurant Associates Inc., et al., No. 156070/2015, N.Y. Sup., New York Co., 2018 N.Y. Misc. LEXIS 3369).

  • August 16, 2018

    Judge Rules On Motion To Quash Subpoena In Insolvent Funeral Insurers’ Dispute

    ST. LOUIS — A Missouri federal judge on Aug. 14 granted in part and denied in part a request to quash a subpoena against a nonparty to provide documents in a dispute over the mishandling of funds belonging to insolvent funeral insurers (Jo Ann Howard & Associates P.C., et al. v. J. Douglas Cassity, et al., No. 09-01252, E.D. Mo., 2018 U.S. Dist. LEXIS 137013).

  • August 15, 2018

    Federal Judge Remands Negligence Case Against Insolvent Insurer, Toyota

    NEWARK, N.J. — An insolvent insurer’s addition as a defendant to a negligence and strict product liability dispute over a vehicle sold by Toyota Motor Sales U.S.A Inc. destroyed federal court diversity, a New Jersey federal judge ruled Aug. 10, granting remand of the case (Eleni Merminas v. Toyota Motor Sales, U.S.A., Inc., No. 16-03048, D. N.J.).

  • August 10, 2018

    Insolvent Insurer’s Shareholder: Sovereign Immunity Does Not Bar Indemnity Claim

    ATLANTA — An insolvent insurer’s sole shareholder on July 26 asked the Georgia Supreme Court to reverse a ruling that sovereign immunity applies to its claim for surcharge against the insurer’s liquidator and an auditing company (Georgia, et al. v. International Indemnity Co., et al., No. S18G0493; Regulatory Technologies Inc. v. Georgia, et al., No. S18G0499, Ga. Sup.).

  • August 10, 2018

    Justice Approves $2.2M Settlement Between Home Liquidator, Additional Insured

    CONCORD, N.H. — On Aug. 2, a New Hampshire trial justice approved a $2,252,000 settlement between the liquidator of The Home Insurance Co. and an additional insured regarding silica and asbestos bodily injury claims (In the matter of the liquidation of The Home Insurance Co., No. 03-E-0106, N.H. Super., Merrimack Co.).

  • August 9, 2018

    Justice Asks For Parties To Show Cause Against Closing Insurer’s Liquidation

    NEW YORK — A New York trial justice on Aug. 6 ordered parties to show cause why a recommendation to close an insurer’s liquidation proceeding should not be approved (In the matter of the liquidation of Drivers Insurance Co., No. 452965/15, N.Y. Sup., New York Co.).

  • August 8, 2018

    New York Justice Places Health Care Insurer Into Liquidation

    JAMAICA, N.Y. — A New York justice ordered a state healthcare provider into liquidation on Aug. 6 and appointed the state’s superintendent of financial services as liquidator (In the matter of Cuatro LLC, No. 700126/2018, N.Y. Sup., Queens Co.).

  • August 8, 2018

    Insolvent Funeral Insurers Give Notice Of New Info Relevant To Motion To Quash

    ST. LOUIS — In a dispute over the mishandling of funds belonging to insolvent funeral insurers, a receiver and state insurance guaranty associations provided notice on Aug. 7 to a Missouri federal court of new information relevant to a motion to quash a subpoena to testify (Jo Ann Howard & Associates P.C., et al. v. J. Douglas Cassity, et al., No. 09-01252, E.D. Mo.).

  • August 6, 2018

    Florida Judge Directs Final Discharge In Receivership Of Magnolia Insurance Company

    TALLAHASSEE, Fla. — A Florida judge on July 23 approved a receiver’s discharge accounting statement, directed final discharge and authorized destruction of obsolete records in the receivership of Magnolia Insurance Co. (In re:  The receivership of Magnolia Insurance Co., No. 2010-CA-01522, Fla. Cir., Leon Co.).

  • August 3, 2018

    Man Sues New Jersey Insurance Guaranty Association For Injuries

    NEWARK, N.J. — A pedestrian on Aug. 1 filed a complaint in state court seeking personal injury damages from the New Jersey Property Liability Insurance Guaranty Association (NJPLIGA) after he suffered injuries caused by an unknown driver (John Plantz v. New Jersey Property Liability Insurance Guaranty Association, et al., No. ESX-L-005402-18, N.J. Super., Essex Co.).

  • August 2, 2018

    Nonparty Seeks To Quash Documents Requested By Insolvent Funeral Insurers

    ST. LOUIS — A nonparty to a dispute over the mishandling of funds belonging to insolvent funeral insurers argues in a July 30 reply brief that a Missouri federal court should quash documents requested by the insurers’ receiver that were previously settled (Jo Ann Howard & Associates P.C., et al. v. J. Douglas Cassity, et al., No. 09-01252, E.D. Mo.).

  • August 1, 2018

    Judge Dismisses Party From Negligence Lawsuit With Insolvent Insurer’s Receiver

    OKLAHOMA CITY — An Oklahoma federal judge on July 25 granted an insolvent insurer’s receiver’s motion to dismiss a party from her negligence lawsuit against reinsurance intermediaries for their alleged negligence in providing reinsurance services to the insurer (Oklahoma, et al. v. Axiom Re LP, et al., No. 17-0484, W.D. Okla.).

  • August 1, 2018

    Judge Permits Insurer To Add Civil Conspiracy Claim Against Bank

    COLUMBIA, S.C. — In a dispute involving a bank sued for its role as trustee of a reinsurance trust for an insolvent insurer, a South Carolina federal judge on July 23 allowed an insurer’s request to amend its complaint to include a cause of action for civil conspiracy (Accident Insurance Company Inc. v. U.S. Bank National Association, et al., No. 16-2621, D. S.C.).

  • July 31, 2018

    Insolvent Insurer Seeks Rehearing In Case Over ACA Risk-Corridor Payments

    WASHINGTON, D.C. — An insolvent health insurer on July 30 asks that the Federal Circuit U.S. Court of Appeals grant rehearing en banc, vacate its decision and enter judgment against the United States for billions in Patient Protection and Affordable Care Act (ACA) risk-corridor funds (Land of Lincoln Mutual Health Insurance Co. v. United States, No. 17-1224, Fed. Cir.).

  • July 26, 2018

    Run-Off Insurer Alleges Mismanagement, Misuse By Reinsurers, Owners

    NEW YORK — An insurer in run-off on July 24 sued reinsurers, their affiliates and their current and former owners, officers and insiders in a New York federal court, alleging the misuse and mismanagement of $320 million in investments by the defendants (Senior Health Insurance Company of Pennsylvania v. Beechwood Re Ltd., et al., No. 18-06658, S.D. N.Y.).

  • July 26, 2018

    Insolvent Insurer’s Liquidator Denies Bank’s Allegations In Reimbursement Lawsuit

    LOS ANGELES — In a California federal court, the liquidator of an insolvent medical professional liability insurer on July 16 answered a bank’s lawsuit seeking reimbursement under a letter of credit issued to the insurer to stay enforcement of an underlying $2.5 million medical malpractice judgment (MUFG Union Bank, N.A. v. Steven C. Taylor, No. 18-02772, C.D. Calif.).

  • July 26, 2018

    Judge Approves Financial Report, Expenses In Insurer’s Liquidation Proceeding

    SAN FRANCISCO — A liquidator on June 28 provided notice of entry of a California judge’s approval of a financial report and expenses of administration in an insurer’s liquidation proceeding (Dave Jones v. CastlePoint National Insurance Co., et al., No. CPF-16-515183, Calif. Super., San Francisco Co.).

  • July 25, 2018

    Insurer’s Liquidator Says Indemnity Claim Is Barred By Sovereign Immunity Doctrine

    ATLANTA — A claim for surcharge by an insolvent insurer’s sole shareholder is barred by the doctrine of sovereign immunity, the insolvent insurer’s liquidator and an auditing company argue July 9 in separate appeal briefs to the Georgia Supreme Court (Georgia, et al. v. International Indemnity Co., et al., No. S18G0493 & Regulatory Technologies Inc. v. Georgia, et al., No. S18G0499, Ga. Sup.).

  • July 25, 2018

    Justice Denies Stay Of Malpractice Suit Based On Insurer’s Liquidation

    NEW YORK — A New York justice on July 20 refused to stay or sever defendants in a medical malpractice lawsuit following a different state trial court’s liquidation order against a nonparty insolvent insurer of two of the defendants (Joseph Carpentieri v. Stuart Kahn, et al., No. 805068/2017, N.Y. Sup., New York Co., 2018 N.Y. Misc. LEXIS 3132).

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