Pa. Commish Wants

Legion Re Ruling Vacated

July 9–Pennsylvania Insurance Commissioner Diane Koken has filed a motion in the Commonwealth Court of Pennsylvania requesting that Judge Hannah Leavitt vacate her ruling permitting certain Legion policyholders direct access to reinsurers.

On June 26, the court ordered the liquidation of Legion and its Villanova subsidiary. In addition, several large policyholders were granted permission by the court to collect claims directly from the reinsurers of Legion and Villanova. These policyholders have claims that exceed the $300,000 maximum limit generally available from most guaranty funds.

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