American policyholders liquidating trust
Most claims under policies of insurance issued by American Mutual are being handled by MIIF, a guaranty fund established by G.
724 , 725-726 & n.3 (1994) (Liquidation of AMLICO).
[Note 7] The priority of payment for allowed claims is governed by G.
Because the guaranty funds, including MIIF, are the largest creditors of American Mutual, they are in a position to receive the bulk of the distributions from the American Mutual estates.
180F, applied to claims presented by the Massachusetts Insurers Insolvency Fund (MIIF) and other guaranty funds and associations (guaranty funds) that are attributable to covered claims under policies of workers' compensation insurance; consequently, claims presented by MIIF and the guaranty funds had priority over claims under other types of insurance policies in the distribution of insolvent insurers' estates. As to question (b), we hold that the same priority applies to claims presented by MIIF and other guaranty funds and associations (guaranty funds) that are attributable to covered claims under policies of workers' compensation insurance. American Mutual, property and casualty insurers domiciled in Massachusetts, wrote primarily workers' compensation, general liability, and automobile lines of insur- Page 275 ance for both commercial and personal lines policyholders.
A motion for approval of a plan of liquidation, filed on May 14, 1999, was heard by Judith A. David Leslie, Special Assistant Attorney General, with him) for Commissioner of Insurance. Cooke for California Insurance Guarantee Association & others, amici curiae.
[281-287] The priority accorded workers' compensation claims in G. [292-294] Certain case reserves and incurred but not reported reserves established by insurers reinsured by insolvent insurers could not be used as offsets against amounts presently due and owing from such insurers as reinsurers of the insolvent insurers, where the Legislature had not acted to allow contingent claims generally, or case reserves and incurred but not reported reserves specifically, and where there was no compelling reason to do so based on the common law of setoff. A single justice of this court has reserved and reported four questions of law concerning the amended plan of liquidation of American Mutual Liability Insurance Company (AMLICO) and American Mutual Insurance Company of Boston (AMI) (collectively, American Mutual), which came before the county court on a motion for approval by the Commissioner of Insurance (commissioner), acting as the permanent receiver (receiver) of American Mutual. Do claims under workers' compensation policies have priority over claims under other types of insurance policies in the distribution of the AMLICO and AMI estates? If the answer to question (a) is yes, do claims presented by the Massachusetts Insurers Insolvency Fund [MIIF] and other guaranty funds and associations attributable to covered claims under policies of workers' compensation insurance have priority over claims under other types of insurance policies in the distribution of the AMLICO and AMI estates? Are case reserves and incurred but not reported reserves established by insurers reinsured by AMLICO or AMI properly used as offsets against amounts presently due and owing from such insurers as reinsurers of AMLICO or AMP "d. For the reasons set forth later in this opinion, we answer these questions as follows. As to question (d), we conclude that the requisite mutuality for offset does not exist between obligations of AMLICO as reinsurer of First State, and obligations of NERCO as reinsurer of AMLICO.
180F, as amended after the liquidation date of the insurers, applied retroactively, and that such retroactive application did not violate the objectors' constitutional guarantees of due process. [287-289] A reinsurer's obligations to an insolvent insurer under their reinsurance treaties could not be offset against the insurer's obligations to an affiliate of the reinsurer under their reinsurance treaties, where the requisite mutuality for offset did not exist between the affiliates which, while members of an insurance group that participated in an inter-company pooling and shared underwriting arrangement, had separate corporate identities; further, the insolvent insurer was neither a party to nor aware of the group's pooling arrangement. Grondine with her) for New England Reinsurance Corporation & another. The questions reserved and reported to this court are as follows: "a. 180F, as amended after the March 9, 1989, liquidation date of American Mutual, applies retroactively, effectively ensuring no recovery for the objectors (Liggett Group Inc. We answer question (c) in the negative, in the absence of a sufficient basis in the common law to conclude that case reserves and incurred but not reported reserves (IBNR) established by insurers reinsured by American Mutual, may be used as offsets [Note 3] against amounts presently due and owing from such insurers as reinsurers of American Mutual.
On June 3, 2011, the Department of Financial Services, Division of Workers’ Compensation received an Amended Petition for Variance or Waiver, from American Policyholders Liquidating Trust, pursuant to Section 120.542, Florida Statutes, and Rule 28-104.002, Florida Administrative Code.
152, § 34 temporary total incapacity benefits, arguing that the findings of causal relationship between the employee’s neck injury and her industrial accident lacks sufficient evidentiary support.
Claims under workers' compensation policies had priority over claims under other types of insurance policies in the distribution of insolvent insurers' estates where, given the relative weakness of the rights asserted by the objectors to a plan for liquidation of the insurers, the sufficiency of the public interest that motivated the Legislature to amend the priority scheme, and the narrow range of claimants who would be affected, this court concluded that the priority accorded workers' compensation claims in G. [294-300] Page 273 CIVIL ACTION commenced in the Supreme Judicial Court for the county of Suffolk on January 17, 1989. Does the requisite mutuality for offset exist between obligations of AMLICO as reinsurer of First State Insurance Company (First State) and obligations of New England Reinsurance Corporation (NERCO) as reinsurer of AMLICO, where NERCO and First State are members of the First State Insurance Group that participate in an inter-company pooling and shared underwriting arrangement? Question (a) concerns whether the priority accorded workers' compensation claims in G.
Cowin, J., and questions of law were reported by her.
180C, [Note 4] a single justice entered an order of liquidation, appointment of permanent receiver and permanent injunction (liquidation order), decreeing that American Mutual was insolvent, and appointing the commissioner as receiver.
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[Note 6] On March 22, 1989, an order entered in the county court requiring that creditors of American Mutual file proofs of claim with the receiver by March 9, 1990.