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In the year 2010, insurance regulators for New York State took away the insurance licenses for Atlantic Mutual due to a negative surplus.
And then in April of 2011, the company had to be placed into liquidation after a bombardment of workers’ compensation claims.
Law360 (July 10, 2018, PM EDT) -- The Delaware Supreme Court Tuesday affirmed a ruling that excess insurers One Beacon Insurance Co. must share on a prorated basis coverage of tens of thousands of asbestos injury claims against prebankruptcy General Motors Corp.
The panel rejected arguments by the trust handling some of the auto giant’s pre-bankruptcy insurance claims that the trial court erred when it found under the language of the policies the insurers owed coverage proportional to the time their policies were in place rather than being liable for...
The Delaware Insurance Guaranty Association is a statutory entity created in 1970 when the Delaware Legislature enacted the Delaware Insurance Guaranty Association Act.
The guaranty association is composed of all insurers licensed to sell property and casualty insurance in the State of Delaware.
In order for DIGA to become responsible for the claims liabilities of a member insurer in Delaware, a court of competent jurisdiction must issue a liquidation order with a finding of insolvency of the insurer.In the event that a member insurer is found to be insolvent and is ordered into liquidation by a court, the Delaware Insurance Guaranty Association Act enables the guaranty association to provide benefits on covered claims up to the limits spelled out in the Act.DIGA obtains funds to meet its obligations by assessing it's member companies. When a company is declared insolvent and ordered liquidated by a court of competent jurisdiction, a liquidator is appointed.More than 250 patients pursued malpractice claims against dentist Henri Duyzend after he retired in 2007, claiming he routinely performed unnecessary root canals.Continental, Duyzend’s insurer, allegedly sought to settle each claim sequentially and ignored an offer to end the disputes by tendering the ...