Flood Basics still causing pain for some
The Standard Formula Podcast | Using an Internal Model to Calculate the Solvency Capital Requirement
The Standard Formula Podcast | Dissecting the Solvency Capital Requirement
Best Practices for Negotiating Manuscript Exclusions
AGG Talks: Healthcare Insights - Episode 1: A Primer for Providers When Insurance Companies Refuse to Pay
The Standard Formula Podcast | Solvency II Back to Basics: Technical Provisions
D&O Insurance Myths (Part 2)
Hinshaw Insurance Law TV | Bad Faith Law
The Standard Formula Podcast | Investment Rules for Insurers and Reinsurers
D&O Insurance Myths (Part 1)
The Standard Formula Podcast | Understanding the UK’s Matching Adjustment Regime
The Standard Formula Podcast | Solvency II Back to Basics: Third Country Branches and Cross-Border Provision of Services
Standard Formula Podcast | Reinsurance and Risk Transfer: Risk Mitigation Under the Solvency II Regime
Hinshaw Releases Second Edition of Duty to Defend: A Fifty-State Survey
Hinshaw Insurance Law TV – Transaction Insurance Solutions
The Standard Formula Podcast | Understanding Insurance Resolution Regimes
The Risk Roundtable: Demystifying the Intersection Between NJ Workers' Comp & Employment Practice Liability
GILTI Conscience Podcast | Tax Insurance 101
Insurance for the Cannabis Industry: Risks & Challenges
The Standard Formula Podcast | International Association of Insurance Supervisors: Who They Are and Their Industry Impact
PHL Variable Insurance Company (PHL) and its subsidiaries, Concord Re, Inc. and Palisado Re, Inc., have been placed into rehabilitation as of May 20, by order of the Superior Court of the State of Connecticut, Judicial...more
Some sectors of the insurance industry, like the property market, for example, have sustained significant financial losses that have resulted in an uptick in the number of insurance companies being ordered into receivership. ...more
On November 8, 2023, Arrowood Indemnity was placed into voluntary liquidation in Delaware. Arrowood was the runoff entity for Royal Sun Alliance Insurance Group, and had been in operation for about twenty years, resolving...more
Since the introduction of the Insurance Act in 1979, the Cayman Islands has established itself as one of the largest, and most sophisticated, centres for international insurance business. As of the first quarter of 2023, the...more
Current state of affairs - Even before Hurricane Ian made landfall and devastated southwest Florida in September 2022, six property & casualty insurers had voluntarily declared themselves insolvent and allowed the State to...more
In 2020 and 2021, Special Purpose Acquisition Companies (SPACs) were all the rage. A SPAC is a “blank check company,” publicly traded, and organized for the purpose of merging with a private company. It’s a mechanism for a...more
The Supreme Court of South Dakota has held that a state insurance liquidator’s notice of a claim first made and reported four months after the insolvent insurer’s claims-made policy period had ended was within the policy’s...more
1.1.1 Taxes/Duties Payable Upon Execution of the Sales Agreement VAT Whether there will be any VAT payable on the sale of an aircraft is determined by its physical location at the point of sale. If the aircraft is physically...more
For a special purpose acquisition company (SPAC) that has not completed a business combination but is approaching its deadline for finding a suitable target, two questions loom large: do we extend or liquidate?...more
In In re Rehabilitation of Scottish Re (U.S.), Inc., C.A. No. 2019-0175-JTL (Del. Ch. Apr.18, 2022), the Delaware Court of Chancery ruled, as a matter of first impression, that in a delinquency proceeding for an insurance...more
When is an insurance commissioner not a governmental authority? A federal district judge reminds us that a state insurance commissioner, when acting as receiver of an insolvent insurer, acts in a different capacity to his...more
In recent weeks, two insurers with significant legacies of occurrence-based general liability coverage took important steps to liquidate their estates. Bedivere Insurance Company (OneBeacon) Liquidation - The first...more
A risk retention group (RRG) is a state-chartered insurance company that insures commercial businesses and government entities against liability risks, including medical malpractice. In 2017, Oceanus Insurance Company, RPG,...more
Northwestern National, the successor to Bellefonte Insurance Company, was placed into liquidation by a court in Wisconsin in May. Northwestern National was previously put into rehabilitation by the Wisconsin Office of the...more
We previously posted on the trial court’s ruling addressing the statute of limitations in this case on June 23, 2016. By way of background, the underlying contract between the insurer and the reinsurer required the insurer to...more
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
The New Hampshire liquidation court approved the commutation, settlement, and release agreement between The Home Insurance Company (liquidating) and Pennsylvania Manufacturers Association Insurance Company (PMAIC). The...more
A New Hampshire court has approved the commutation, settlement, and release agreement between The Home Insurance Company (in Liquidation) and Providence Washington Insurance Company (PWIC), as successor to Unigard Mutual...more
The court handling the liquidation of Reliance Insurance Company has approved an application for the direct payment of reinsurance proceeds by United Insurance Company to Reliance’s insured, Hoechst Celanese Corporation, with...more
In a discovery dispute following the liquidation of Western Insurance Company (“Western”), a Utah federal district court granted a motion to compel a 30(b)(6) deposition testimony regarding Western’s reinsurance agreements....more
Recently, there have been several developments in the ongoing liquidation of Reliance Insurance Company. The liquidation court recently approved the application for the assumption by one of Reliance’s reinsurers, EFH Vermont...more
Excalibur had been in run-off status since 2003, and under regulatory supervision since at least 2013. A Pennsylvania court has now placed Excalibur into liquidation based on three grounds: (1) insolvency – Excalibur’s...more
Freestone Insurance Company is a Delaware-domiciled insurer that has been placed in liquidation. U.S. Bank National Association served as the trustee under a reinsurance trust agreement (the “Trust Agreement”) between...more
In various posts, the latest of which was September 2, 2015, Reinsurance Focus has covered developments in the liquidation of The Home Insurance Company. Recently, the liquidation court entered orders approving three...more
A Texas court presiding over the liquidation of Santa Fe Auto Insurance Company approved an application by the Special Deputy Receiver for the liquidating company (“SDR”) to enter into a reinsurance settlement with three...more