News & Analysis as of

Insurance Bankruptcy

Read Insurance Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Liability Coverage Policies: Property of the Estate to Which the Automatic Stay Applies

by Best Best & Krieger LLP on

When a chapter 7, 11, 12 or 13 case is filed, two key items spring into life. The first is a new entity called the bankruptcy estate which is comprised of all of the debtor’s non-exempt legal or equitable interests in...more

Update On Liquidation Of The Home Insurance Company

by Carlton Fields on

The New Hampshire liquidation court approved the commutation, settlement, and release agreement between The Home Insurance Company (liquidating) and OIC Run-Off Limited (formerly known as The Orion Insurance Company) (OIC)...more

NY Bankruptcy Court Trumps Insurers Seeking to Compel Arbitration

by Locke Lord LLP on

The United States Bankruptcy Court for the Southern District of New York recently held a group of insurers in contempt for violating a temporary restraining order (“TRO”) aimed at preventing the insurers from using a Bermuda...more

10 Things You Need to Know About Health Care Bankruptcies in 2017

by Foley & Lardner LLP on

The coming year will likely continue to be a tumultuous year for health care providers, suppliers, and payers, as they adapt to meet new challenges and market forces, particularly in light of the open questions as to the...more

Deadline to File Liquidated Claims with Lumbermens in Liquidation Extended to 2017

by Reed Smith on

The November 10, 2016, deadline for timely filing liquidated claims in the Lumbermens Liquidation has been extended to November 10, 2017. The November 10, 2016, deadline for timely filing liquidated claims in the...more

D&Os – Be Aware of Creditor Exclusion in Your Insurance Coverage

by Dechert LLP on

The U.S. Court of Appeals for the Fifth Circuit recently held that a Creditor Exclusion provision in D&O insurance coverage may result in significant limitations on the coverage provided to the D&Os, when the underlying...more

Finally A Clear Ruling On A Much Needed Bankruptcy Preference Defense

by Saul Ewing LLP on

The United States Bankruptcy Court for the District of Delaware has finally clarified that the administrative expense claim for goods delivered post-bankruptcy filing may be set off – dollar for dollar – to reduce any open...more

Direct access to insurers of insolvent entities at last? Third Parties (Rights Against Insurers) Act 2010

by DLA Piper on

After considerable delay the long-awaited Third Parties (Rights Against Insurers) Act 2010, having been amended by the Third Parties (Rights Against Insurers) Regulations 2016, is finally due to come into force on 1 August...more

Excess Policies at Issue Deemed Not to Attach Absent Actual Payment of the Amount of Underlying Limits by Either the Insured or...

by K&L Gates LLP on

Policyholders contemplating insurance coverage settlements with low-level insurers should use caution to preserve their ability to access higher-level excess policies. Excess insurers are increasingly disputing that...more

The Third Parties (Rights against Insurers) Act 2010 and Its Impact on Subrogated Claims

by Cozen O'Connor on

It has been some time coming, but on August 1, 2016, the operative provisions of the Third Parties (Rights against Insurers) Act 2010 (the Act) will come into force. The Act will significantly improve the subrogation...more

Directors – Don’t Be at a Loss for Your D&O Coverage in Bankruptcy

As the spate of energy bankruptcies continues, trustees, shareholders, creditors, plaintiff’s firms and other interested parties are looking at ever more creative ways to maximize the recovery for their constituency or fight...more

Technological and Information Concerns Highlight NAIC Spring 2016 National Meeting

by Foley & Lardner LLP on

The National Association of Insurance Commissioners (NAIC) Spring 2016 National Meeting, which was held from April 3 – 6 in New Orleans, offered insight into numerous issues being considered by state commissioners nationwide....more

Insurance Broker Had No Duty to Inform Security Company Insured of Change in Exclusion Language for Alarm Systems

by Hinshaw & Culbertson LLP on

Schlossberg v. B.F. Saul Insurance Agency of MD, Inc., Case No. GJH-13-3076 USDC (Dist. of Maryland, Southern Div.) December 8, 2015 - Plaintiff was the bankruptcy trustee for DTM, a company that provided security guards...more

Article: Southern District Decision Confirms Breadth of Bankruptcy Court Jurisdiction

The Southern District of New York in the recent Ames decision engaged in a detailed analysis of the contours of bankruptcy-court jurisdiction and found it broadly included a wide array of state law claims (notwithstanding the...more

Claims Bar Date Creates Trap for Unwary in Reliance Insurance Company Liquidation

by Reed Smith on

The Commonwealth Court of Pennsylvania has established March 31, 2016, as the Claims Bar Date in the Reliance Insurance Company Liquidation. Policyholders and claimants may think that if they file a claim on March 31, 2016,...more

Policyholders Beware: Failure to Give Timely Notice, as Soon as Practicable During a Claims-Made Policy's Effective Dates or...

by McCarter & English, LLP on

The New Jersey Supreme Court recently held that an insurer may disclaim coverage without showing it was prejudiced by a policyholder’s failure to comply with a claims-made policy’s notice provision. In Templo Fuente De...more

Germany’s Maple Bank Indemnification: Implications for Creditors

by Reed Smith on

On 12 February 2016, the German Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, or BaFin) declared Maple Bank GmbH (“Maple”) as an indemnification case, meaning that the German deposit...more

Reliance Insurance Company Final Claims Bar Date: March 31, 2016

by Gilbert LLP on

The court overseeing the liquidation of Reliance Insurance Company, one of the largest insurance liquidations in history, has approved the liquidator’s request for a final claims bar date of March 31, 2016. Reliance’s...more

New York Federal Bankruptcy Court Finds Insurance Insolvency Proceeding Does Not “Reverse – Preempt” Bankruptcy Court Jurisdiction

by Carlton Fields on

In a recent adversary proceeding in the chapter 11 case involving Ames Department Stores, Inc. (“Ames”), Lumbermens Mutual Casualty Company (“Lumbermen’s”) argued that under the McCarran-Ferguson Act, the issues in dispute...more

Texas Court Holds Pollution Exclusion Inapplicable

In its recent decision in In re: ATP Oil & Gas Corporation, 2016 Bank. LEXIS 201 (S.D. Tex. Bankr. Jan. 20, 2016), the United States Bankruptcy Court for the Southern District of Texas had occasion to consider the application...more

The Impact of Health Insurance Co-Op Liquidations on Providers

by Epstein Becker & Green on

A growing number of health insurance co-ops or “consumer operated and oriented plans” created under the Affordable Care Act (“ACA”) are shutting down on their own initiative or on orders of state regulators because of their...more

2015 Wisconsin Act 90 Changes Numerous Insurance Provisions

by Foley & Lardner LLP on

On November 11, 2015, Governor Scott Walker signed Senate Bill 287 into law as 2015 Wisconsin Act 90. The law is a collection of miscellaneous changes and updates to Wisconsin’s Insurance Code, including technical corrections...more

High Court Approves Amending Scheme for Orion and London and Overseas

by K&L Gates LLP on

On October 29, 2015, the High Court of Justice of England and Wales (“High Court”) issued an order (“Order”) approving an Amending Scheme of Arrangement (“Amending Scheme”) for two insolvent London Market insurers, OIC...more

Lincoln General Insurance Company Enters Liquidation in Pennsylvania

by Reed Smith on

The Insurance Commissioner of Pennsylvania has placed Lincoln General Insurance Company into liquidation in Pennsylvania. As a result, the Insurance Commissioner as Liquidator takes over the property, business, and affairs of...more

Court Extends Kemper Insurance Company’s Contingent Claims Filing Deadline

by McCarter & English, LLP on

On November 2, 2015, the Circuit Court of Cook County, Illinois, entered an order granting a one-year extension of the deadline for filing proof of liquidation of an insured’s contingent claim for losses associated with...more

137 Results
|
View per page
Page: of 6
Cybersecurity

Follow Insurance Updates on:

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.

Feedback? Tell us what you think of the new jdsupra.com!