Insolvent Insurers definition

Insolvent Insurers means Northwestern National Insurance Company of Milwaukee Wisconsin (f/k/a Bellefonte Insurance Co.), Stronghold Insurance Co. Ltd. and CX Reinsurance Company Ltd.
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Insolvent Insurers means Holland-America Insurance Company, Integrity Insurance Company, Midland Insurance Company, Mission Insurance Company, The Home Insurance Company, The Protective National Insurance Company of Omaha, Transit Casualty Company, and Western Employers Insurance Company, as well as any other insurer for which an Order of Liquidation NJ Guaranty Settlement is entered subsequent to the Execution Date; provided, however, that insurers that may become subject to Orders of Liquidation entered after the Execution Date shall not be deemed Insolvent Insurers in respect of Claims other than Asbestos-Released Claims, and this Agreement, the Approval Order, and the release, sale, and injunctive provisions therein shall not be deemed to impair or limit the Congoleum-Related Parties’ rights against the NJ Guaranty Parties with respect to any Claims other than Asbestos-Released Claims arising out of or related to any insurer that may become subject to an Order of Liquidation after the Execution Date.
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Insolvent Insurers means Stronghold Insurance Company Ltd., CNA Reinsurance of London, Ltd., CNA International Reinsurance Company, Ltd., and CX Reinsurance Company Ltd. For the avoidance of doubt, no “Insolvent Insurer” is an Affiliate of any Insurer, and no Insurer Policy shall include any portion subscribed by an Insolvent Insurer.
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Examples of Insolvent Insurers in a sentence

  • Nothing in the Plan will be construed to authorize a violation of any stay that is applicable in light of the pending insolvency proceedings with respect to such Insolvent Insurers.

  • The Channeling Injunction and Supplemental Insurer Injunction will not be for the benefit of Non-Settling Insurers, including the Insolvent Insurers.

  • Brown, New Jersey Allocation Law: How to Calculate Solvent and Insolvent Insurers Pro-Rata Shares for Long- Tail Claims, 50 TORT TRIAL & INS.

  • Historical Activity With Respect To Insolvent Insurers For almost the first two years of its existence, from its statutory creation on January 1, 1980, through November of 1981, the Association was not activated by the liquidation of any insolvent insurer licensed to do business in Illinois.

  • Two departmental output classes were established: Non- Compliers Fund and Insolvent Insurers Fund.A new departmental output class, ACC Transition, was established in 1999/2000 for the management of the transition of workplace accident insurance to a single public fund.

  • The legislation provided for the following process in the event of insolvency:• The liabilities were to be assumed by the Insolvent Insurers Fund (IIF), with the express intention that the impact on claimants was minimal.• The prudential supervisor, administrator and AI Regulator all had prime responsibilities for the IIF.• Future liabilities were to be limited by cancelling current contracts or transferring the contracts to another insurer.

  • The Supplemental Settling Insurer Injunction will not be for the benefit of Non-Settling Insurers, including the Insolvent Insurers.

  • Instead of requiring insurers to contribute to the Insolvent Insurers Fund, the government should fund any such amounts through general taxation.

  • No. 685); Joinder of First State Insurance Company and New England Reinsurance Corporation in the Limited Objection of the Insurance Company of the State of Pennsylvania, Granite State Insurance Company, and Lexington Insurance Company to Debtors’ Motion for an Order Approving Settlement of Claim Against Insolvent Insurers (Dkt.

  • Thus, there is no way for the Committee to determine from the 2 See Limited Objection of the Insurance Company of the State of Pennsylvania, Granite State Insurance Company, and Lexington Insurance Company to Debtors’ Motion for an Order Approving Settlement of Claim Against Insolvent Insurers (Dkt.


More Definitions of Insolvent Insurers

Insolvent Insurers means Stronghold Insurance Company Ltd., CNA Reinsurance of London, Ltd., CNA International Reinsurance Company, Ltd., and CX Reinsurance Company Ltd. For the avoidance of doubt, no “Insolvent Insurer” is an Affiliate of any Settling Insurer.
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Insolvent Insurers means Northwestern National Insurance Company of Milwaukee Wisconsin (f/k/a Bellefonte Insurance Co.), Stronghold Insurance Co. Ltd., CNA Reinsurance of London, Ltd., CNA International Reinsurance Co. Ltd., CX Reinsurance Company Ltd. and Pine Top Insurance Co., Ltd.; provided, however, notwithstanding anything to the contrary contained herein: (a) no Insolvent Insurer is an “Affiliate”; (b) no Insolvent Insurer is a London Market Insurers Entity, London Market Company, Lloyd’s Underwriter or Underwriter Third Party Beneficiary; and
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Related to Insolvent Insurers

  • Insolvent pertaining to a condition of Insolvency.

  • FDIC The Federal Deposit Insurance Corporation, or any successor thereto.

  • Insolvency Laws The Bankruptcy Code and all other applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization, suspension of payments, or similar debtor relief laws from time to time in effect affecting the rights of creditors generally.

  • Insolvency Event means, with respect to a specified Person, (a) the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or ordering the winding-up or liquidation of such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing.

  • Insolvency Proceedings means bankruptcy, liquidation or other collective judicial or administrative proceedings, including interim proceedings, in which the assets and affairs of the debtor are subject to control or supervision by a court for the purposes of reorganisation or liquidation;

  • Bankrupt means with respect to any entity, such entity that (a) files a petition or otherwise commences, authorizes or acquiesces in the commencement of a proceeding or cause of action under any bankruptcy, insolvency, reorganization or similar Law, or has any such petition filed or commenced against it and such case filed against it is not dismissed in ninety (90) days, (b) makes an assignment or any general arrangement for the benefit of creditors, (c) otherwise becomes bankrupt or insolvent (however evidenced), (d) has a liquidator, administrator, receiver, trustee, conservator or similar official appointed with respect to it or any substantial portion of its property or assets, or (e) is generally unable to pay its debts as they fall due.

  • Insolvency with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning of Section 4245 of ERISA.

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Credit unemployment insurance means insurance:

  • Solvent or “Solvency” means, with respect to any Person as of a particular date, that on such date (a) such Person is able to pay its debts and other liabilities, contingent obligations and other commitments as they mature in the ordinary course of business, (b) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and liabilities mature in their ordinary course, (c) such Person is not engaged in a business or a transaction, and is not about to engage in a business or a transaction, for which such Person’s property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which such Person is engaged or is to engage, (d) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person and (e) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured. In computing the amount of contingent liabilities at any time, it is intended that such liabilities will be computed at the amount which, in light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

  • Blanket insurance policy means a group policy covering a defined class of

  • Sum Insured means the sum as specified in the Schedule to this Policy against the name of Insured / each Insured Person, which sum represents the Company's maximum liability for any or all claims under this Policy during the Policy period for the respective benefit(s) against which the sum is mentioned in the Schedule to this Policy.

  • Insured means the Executive.

  • Bankruptcy means, with respect to any Person, if such Person (i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of all or any substantial part of its properties, or (vii) if 120 days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Person’s consent or acquiescence of a trustee, receiver or liquidator of such Person or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of “Bankruptcy” is intended to replace and shall supersede and replace the definition of “Bankruptcy” set forth in Sections 18-101(1) and 18-304 of the Act.

  • Institution means a higher educational institution including, but not limited to an university, a deemed to be university, a college, an institute, an institution of national importance set up by an Act of Parliament or a constituent unit of such institution, imparting higher education beyond 12 years of schooling leading to, but not necessarily culminating in, a degree (graduate, postgraduate and/or higher level) and/or to a university diploma.