Mealey's Insurance - Panel Upholds Zero Assignment Value On Claims Made To Insolvent Insurer's Liquidator

HARRISBURG, Pa. - The Pennsylvania Commonwealth Court on March 21 affirmed a liquidator's notices of determinations assigning a priority level (e) and a valuation of $0 to claims for expenses related to investment of guaranty fund assets because any benefit does not go to the insolvent insurer's estate but rather each insurance guaranty association's member insurers (Illinois Insurance Guaranty Fund v. Reliance Insurance Co. in liquidation, No. 6 REL 2011, Delaware Insurance Guaranty Association v. Reliance Insurance Co. in liquidation, No. 7 REL 2011, Pennsylvania Property and Casualty Insurance Association v. Reliance Insurance Co. in liquidation, No. 8 REL 2011, Pa. Cmwlth.; 2014 Pa. Commw. LEXIS 180).

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