Mealey's Insurance Insolvency

  • April 11, 2022

    $33.5M In Payments To Cedents Get OK In Reinsurer’s Delinquency Proceeding

    WILMINGTON, Del. —  A Delaware vice chancellor on March 31 granted a motion under which some of a delinquent reinsurer’s cedents will receive payments for a portion of their losses before a rehabilitation plan for the reinsurer is approved.

  • April 11, 2022

    Parties Report On Subpoenas, Settlements, Related Case In Insolvent Health Plan Suit

    CHICAGO — Parties on April 7 filed a joint status report in a lawsuit alleging that insurance brokers breached their duty of care because they knew or should have known that a multiple employer welfare arrangement (MEWA) was not in compliance with its structural requirements and was not financially sound, indicating that the parties have issued a total of 87 third-party document subpoenas and that the plaintiff has now settled with five of the defendants.

  • April 07, 2022

    3 Defendants Are Voluntarily Dismissed From Litigation Over Hedge Funds Collapse

    NEW YORK — On April 4, parties in consolidated aiding and abetting lawsuits over the collapse of hedge funds stipulated to and a New York federal judge signed an order of voluntary dismissal as to three defendants.

  • April 04, 2022

    Insolvent Insurers, Government Announce Settlement In ACA Risk-Corridor Dispute

    WASHINGTON, D.C. — Insolvent insurers and the U.S. government on March 31 filed a corrected stipulation for entry of partial judgment in the U.S. Court of Federal Claims based on their settlement of a lawsuit seeking a declaratory judgment that the U.S. government owes the insurers millions of dollars under the Patient Protection and Affordable Care Act (ACA) risk-corridor program.

  • April 04, 2022

    Delaware Judge:  Sufficient Evidence Vehicle Was Uninsured At Time Of Accident

    NEW CASTLE, Del. — A Delaware judge held March 28 that a plaintiff has satisfy his burden for establishing that a vehicle was uninsured at the time of an accident and that there is a genuine issue of material fact as to who was the driver of that vehicle, noting that the insolvency of the insuring company renders a vehicle uninsured under Delaware law.

  • April 04, 2022

    Defendant Seeks To Prohibit References To Insurance At Asbestos Liability Trial

    NEW ORLEANS — Defendants in an asbestos liability coverage suit on April 1 filed two motions in limine in a Louisiana federal court seeking to prohibit references at trial to insurance and to establish the admissibility of Liberty Mutual Insurance Co.’s policy documents.

  • March 30, 2022

    Insurer’s Liquidators Seek Bankruptcy Court’s OK On Procedures To Sell Assets

    NEW YORK — The joint provisional liquidators (JPLs) of Bermuda insurer and reinsurer PB Life and Annuity Co. Ltd. (PBLA) and other debtors on March 28 asked a New York federal bankruptcy court to approve procedures to sell the debtors’ assets, saying that without approval, “the time and uncertainty associated with the sale of the Assets will likely lead to hesitation on behalf of potential buyers.”

  • March 28, 2022

    Oral Argument Sought In Insurer’s Coverage Dispute Over Personal Injury Judgment

    SAVANNAH, Ga. — Defendants on March 25 requested a Georgia federal court to hold oral argument of a commercial auto insurer’s motion for summary judgment in its lawsuit seeking a declaration that there is no coverage for the insured, its owners and an employee for an underlying $112,466.57 personal injury default judgment.

  • March 25, 2022

    Parties Stipulate To Dismissal As To Last Defendant In Reinsurance Billings Row

    BOSTON — Parties in a reinsurance billings dispute over the allocation of a $120 million environmental claims settlement on March 23 filed a joint stipulation of dismissal as to what they said was the last remaining defendant in the action in Massachusetts federal court.

  • March 23, 2022

    Insurer Appeals Dismissal Of Insolvent Excess E&O Insurer’s Subrogation Claim

    KANSAS CITY, Kan. — An insurer assuming responsibility for Blue Cross Blue Shield of Kansas Inc.’s insolvent excess errors and omissions insurer on March 16 filed a notice in a Kansas federal court indicating that it was appealing the dismissal of a subrogation claim against Blue Cross Blue Shield Association in an antitrust coverage dispute.

  • March 18, 2022

    Decedent’s Heirs Respond To Summary Judgment Motions In Asbestos Liability Lawsuit

    NEW ORLEANS — The heirs to a recently deceased plaintiff in an asbestos liability coverage lawsuit on March 9 opposed motions for summary judgment filed by an insurer and another defendant in a Louisiana federal court, arguing that they have demonstrated genuine issues of material fact regarding whether the decedent was exposed to asbestos because of the movants’ activities or products.

  • March 18, 2022

    Judgment Entered In Favor Of Pa. Insurance Commissioner As SHIP Rehabilitator

    BATON ROUGE, La. — A federal judge in Louisiana on Feb. 17 entered judgment in favor of the Pennsylvania insurance commissioner, as rehabilitator for Senior Health Insurance Company of Pennsylvania (SHIP), after dismissing without prejudice the Louisiana's insurance commissioner’s complaint seeking a declaratory judgment that the rehabilitator cannot alter, without his approval, the rates and benefits for SHIP's Louisiana policyholders.

  • March 18, 2022

    Puerto Rico Insurance Commissioner: Title III Court Confirmed Debt Adjustment Plan

    BOSTON — In a Feb. 14 status report, the Puerto Rico insurance commissioner and auxiliary rehabilitator informed the First Circuit U.S. Court of Appeals that an order and judgment confirming a modified joint plan of adjustment of its debts has been issued in proceedings filed by the commonwealth of Puerto Rico under Title III of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA).

  • March 18, 2022

    NCIGA Says It Suffered Real Injury-In-Fact In MSP Requirements Dispute

    RICHMOND, Va. — The North Carolina Insurance Guaranty Association (NCIGA) on Feb. 17 reinforced its appeal asking the Fourth Circuit U.S. Court of Appeals to reverse a North Carolina federal court’s ruling that granted the secretary of Health and Human Services and federal agencies’ motion to dismiss its lawsuit challenging the reporting requirements under the federal Medicare Secondary Payer (MSP) statute, arguing in its reply brief that it has “adequately pled that it suffered a real, cognizable, and immediate injury-in-fact sufficient to support” its standing.

  • March 16, 2022

    Blue Cross Moves For Judgment On The Pleadings In Antitrust Coverage Dispute

    KANSAS CITY, Kan. — Blue Cross Blue Shield of Kansas Inc. on March 10 moved for judgment on the pleadings in a Kansas federal court, challenging two claims in an antitrust coverage dispute involving an insolvent insurer.

  • March 15, 2022

    Trial Set For November In Aiding, Abetting Litigation Over Hedge Funds Collapse

    NEW YORK — A New York federal judge on March 11 rescheduled a jury trial in consolidated aiding and abetting lawsuits over the collapse of hedge funds for Nov. 30 because “[d]ue to continued Covid protocols, trial in this case cannot go forward as scheduled in May,” a text-only docket entry shows.

  • March 14, 2022

    Judge Rules Documents Protected In Reinsurer’s Suit Over Defense And Indemnity

    NEW YORK — Following ex parte review of documents that the plaintiff withheld from production in a dispute over defense and indemnity costs, a New York federal judge on March 3 ruled that attorney-client privilege or the attorney work product doctrine protect all but one and that the defendant “has not made a showing of substantial need and undue hardship.”

  • March 11, 2022

    N.C. Panel: Insolvent Insurer’s Workers’ Compensation Policy Did Not Cover Claim

    RALEIGH, N.C. — A North Carolina court of appeals on March 1 held that the North Carolina Industrial Commission did not err in finding that a workers’ compensation insurance policy from a now insolvent insurer did not cover a plaintiff’s claim for temporary total disability benefits and medical compensation.

  • March 09, 2022

    After Trial Cancellation, Stay Remains On Last Defendant In Reinsurance Billings Row

    BOSTON — Following cancellation of a Massachusetts federal jury trial in a reinsurance billings dispute over the allocation of a $120 million environmental claims settlement, the parties on March 4 filed a joint stipulation of voluntarily dismissal as to one of the two remaining defendants and said a stay remains in effect as to the other.

  • March 03, 2022

    Judge Handles Discovery Bids In Defense And Indemnity Costs Row Involving Reinsurer

    NEW YORK — A New York federal judge on Feb. 24 resolved the latest of several discovery disputes in a dispute over defense and indemnity costs by issuing a text-only order for ex parte review of documents that the plaintiff asserts are privileged.

Can't find the article you're looking for? Click here to search the Mealey's Insurance Insolvency archive.