Practice Areas & Industries: Duane Morris LLP

 




Insurance Company Insolvencies Return to Practice Areas & Industries

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Practice/Industry Group Overview

Given the depth of experience in the insolvency and bankruptcy law area, as well as the firm's comprehensive Insurance industry practice, it is only natural that the lawyers in the Business Reorganization and Financial Restructuring group would also handle insurance company rehabilitation and liquidation cases. Indeed, over the years, many of the nation's leading lenders, reinsurers and insurance guaranty associations and other parties-in-interests have turned to the firm for its counsel relating to some of our nation's largest and most significant insurance company insolvency proceedings, including Mutual Fire, Marine & Inland Insurance Company, Fidelity Mutual Life Insurance Company and Reliance Insurance Company.


 
 
Articles Authored by Lawyers at this office:

Highlights from the NAIC Spring Annual Meeting on PBR and Captive Insurance Companies
Cameron F. MacRae,Hugh T. McCormick,K. Oliver Rust, April 22, 2015
Beginning in 2013, we have issued a series of Alerts on the controversy regarding the use of captive insurance companies to finance reserves for certain type of life insurance policies (so-called "XXX or AXXX reserves," which are widely believed to exceed reserves that are actually needed...

The Illinois Duty to Defend: Litigation Insurance against Groundless Suits Even When Extrinsic Facts Known to Both Insurer and Insured Would Otherwise Abrogate Coverage
Mark A. Bradford, March 30, 2015
On January 13, 2015, the Illinois Appellate Court issued its opinion in Illinois Tool Works, Inc. v. Travelers Casualty and Surety Co., 2015 IL App. (1st) 132350 (1st Dist. 2015), wherein the court held the insurer had a duty to defend its insured against numerous vaguely pleaded toxic tort...

Insurance Coverage for Damaged NYC Tower Crane
Stanley A. Martin, March 13, 2015
Readers will recall photos of a tower crane damaged by Hurricane Sandy. Construction of the NYC high-rise building known as One57 was underway when the crane was lashed by hurricane-force winds. The crane jib was apparently blown backwards, and ended up dangling over the counterweight almost 1,000...

The Assignment of Pennsylvania Statutory Bad Faith Claims: The Supreme Court Rules in Allstate Property and Casualty Ins. Co. v. Wolfe
Charlotte E. Thomas, March 13, 2015
The Pennsylvania Supreme Court recently clarified in Allstate Property and Casualty Ins. Co. v. Wolfe, No. 39 MAP 2014, 2014 WL 7088147 (Pa. Dec. 15, 2014) that statutory bad faith claims brought against insurers under 42 Pa. Cons. Stat. § 8371 can be assigned by insureds to injured...

Latest Developments in Regulation of XXX/AXXX Captives
, February 16, 2015
The National Association of Insurance Commissioners (the "NAIC") is forging ahead with its work on captive insurance companies used by life insurance companies to finance reserves required under current regulations; these reserves are commonly referred to as "XXX reserves" for...

NAIC Moving Forward on Regulation of XXX/AXXX Financing Transactions
Hugh T. McCormick,K. Oliver Rust, September 02, 2014
For more than two years, the National Association of Insurance Commissioners (the "NAIC") has been addressing the use by life insurers of captive reinsurers to finance reserves for certain term life insurance or universal life insurance policies (the reserves are known as "XXX...