Rights in Insolvencies

We represented and advised several clients with respect to their rights and interests in the recent insolvencies of PHICO, Reliance Insurance Company, and Legion and Villanova Insurance Companies.

Insurance and Reinsurance: Representative Matters

We represented OneBeacon Insurance Company in litigation of a preference action brought by the statutory liquidator of Legion Insurance Company (In Liquidation).
Buchanan represented Comerica Bank in a $120 million collateral swap transaction involving a Pennsylvania-based insurance company in rehabilitation.
We represented an insurance company in a stock purchase transaction involving the sale of a life insurance company, including the preparation of an administrative services agreement, reinsurance agreement and Insurance Department regulatory filings.
We have formed risk retention groups (RRGs) and provided ongoing claims and insurance coverage advice to them.
The firm represented a foreign reinsurer in litigation in state and federal courts against insolvent sister insurance companies, vindicating the reinsurer's right to setoff amounts due and owing between the companies.
We represented a foreign reinsurer in a multimillion-dollar arbitration dispute arising out of a surplus relief treaty with a long-term care insurer.
The firm represented a coalition of title insurance companies that collectively account for more than 90 percent of the written title insurance premium in Delaware, in the formation and operation of a title insurance rating organization in that state.
Buchanan represented a risk retention group in federal civil rights litigation against a state insurance regulator, prevailing at every level of the federal judiciary, including the United States Supreme Court.
We represented and advised several clients with respect to their rights and interests in the recent insolvencies of PHICO, Reliance Insurance Company, and Legion and Villanova Insurance Companies.
We defended Highmark Inc. in numerous state forums against claims of irregularities in the fundamental corporate transaction that created the entity and litigation challenging its surplus and reserve levels.
The firm formed a new Pennsylvania insurer to write medical malpractice insurance and to assume the medical malpractice policies issued by a risk retention group, providing those insureds with the added protection of state insolvency guaranty funds.
Buchanan recently provided advice and assisted with the preparation of filings for licensing in Pennsylvania for a new Pennsylvania workers' compensation insurer and an out-of-state medical malpractice insurer.