En Banc Court Upholds Denial Regarding Asset Allocation Under Pennsylvania Law

Mealey's (December 28, 2021, 11:29 AM EST) -- HARRISBURG, Pa. — Overruling exceptions filed by the statutory liquidator, a Pennsylvania court ruling en banc on Dec. 22 reaffirmed a panel decision denying authorization to allocate assets from insolvent insurers’ estates to pay policyholder claims for benefits that exceed applicable statutory guaranty association limits and accrue more than 30 days after the insurance policies were terminated by the liquidations....