Insured Is Entitled To Return Of Collateral Funds From Insolvent Insurer, Panel Says

Insured Is Entitled To Return Of Collateral Funds From Insolvent Insurer, Panel Says

HARRISBURG, Pa. - An insured is entitled to the return of any identified collateral funds or any portion thereof that remained in an insolvent insurer's accounts at the time the liquidator took possession of the assets, the Pennsylvania Commonwealth Court ruled Aug. 27 (Tenco Excavating Inc. v. First Sealord Surety Inc. $(in Liquidation$(, No. 20 FSS 2012, Pa. Cmwlth.; 2013 Pa. Commw. LEXIS 343).

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