The court overseeing the liquidation of Reliance Insurance Company, one of the largest insurance liquidations in history, has approved the liquidator’s request for a final claims bar date of March 31, 2016. Reliance’s current payment percentage is 65%, so any insured with a significant coverage claim against Reliance should ensure that it files a proof of claim and provides the requisite supporting information by the bar date. If your company needs assistance in determining whether you have a valid claim against Reliance or in filing and documenting a claim, our firm can help.
The court’s bar date order requires that any insured seeking coverage from Reliance file a proof of claim and provide certain specific information regarding the basis for the claim no later than the bar date. The required information includes the identity of each of the underlying claims against or losses by the insured (e.g., asbestos bodily injury, environmental property damage) for which insurance coverage is sought. Insureds that previously filed proofs of claim must provide this information by the bar date to the extent the prior filings did not do so, or to the extent that additional underlying claims have been asserted since the prior filings. To the extent the information is not timely provided, the liquidator will seek to disallow the insured’s claim against Reliance.
Gilbert LLP has had extensive dealings with Reliance on bar date issues and has resolved claims against Reliance for a number of clients. If you have any questions in this regard, please contact firm partner Richard Shore at firstname.lastname@example.org or 202-772-2317.
Posted: Feb 12, 2016