In a ruling that affects both insurance and reinsurance companies as well as policy-holders of insolvent insurers subject to the New Jersey's Insurer Liquidation Act N.J.S.A. 17:30C-1 et seq
Supreme Court Ruling in Integrity Is 'Absolute' for Reinsurers
In a ruling that affects both insurance and reinsurance companies as well as policy-holders of insolvent insurers subject to the New Jersey's Insurer Liquidation Act, the New Jersey Supreme Court, in a 3-2 decision in a case of first impression, definitively excluded contingent claims that are 'incurred but not reported' from sharing in the distribution of assets of an insolvent insurer.
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