Preview

Individual Viewer

The Role of Insurance Law in Bankruptcy Proceedings: A Roadmap to Preserving & Asserting Rights

Length: 1 hour

Insurance issues are arising more frequently in bankruptcy proceedings.  A debtor’s insurance policies often represent the debtor’s most valuable asset.  As bankruptcy and insurance law intersect, and sometimes collide, the road can be bumpy.  This program offers a roadmap to policyholders, estate creditors, insurance companies and other interested parties who seek to preserve or assert various rights.  Our panelists, comprised of bankruptcy and insurance counsel, as well as industry professionals, will discuss various topics, including: policies/proceeds as “property of the estate” with respect to liability, D&O and E&O policies; bankruptcy proceedings that impact insurance; standing of insurance companies and co-insured rights; the treatment of deductibles/SIR’s and premium obligations; the enforcement and applicability of certain coverage exclusions; and the use of insurance policies as security interests by third-parties.
 
Program Co-chairs: Marshall Gilinsky, Anderson Kill & Olick, P.C. & Rick B. Antonoff, Clifford Chance US LLP

Faculty: Drexel B. Harris, Associate General Counsel, Reliance Insurance Company (In Liquidation); Tandis Hassid Nili, Vice President, Aon Risk Services of Northeast, Casualty Brokerage Group; Dennis J. Nolan, Anderson Kill & Olick, P.C.

Agenda

8:30- 8:35     Introduction

8:35- 9:25    Bankruptcy Issues
•    Administration at the onset of Bankruptcy
-First day orders for continuation of insurance program, administration of collateral
-The automatic stay and lift stay applications
-How do I get my defense costs paid if I’m a Director

•    Insurance Company Rights in Bankruptcy
-Standing of insurers in bankruptcy cases
-Assignment of policies/proceeds
-Use of policies as security interests
-Effect of third-party releases
-Anti-suit injunction to prevent third party suits against settling insurer
Rick B. Antonoff & Dennis Nolan

9:25- 9:35     Break

9:35- 10:30    Insurance Issues
•    Whose Policy is it Anyway?
-541(a) and property of the Estate
-E & O Insurance
-D & O insurance
-General Liability
-Rights of co-insureds

•    Impact of Defenses and Exclusions
-Debtor’s non-payment of deductibles and self-insured retentions
-Enforceability of bankruptcy exclusions in policies
-Insured vs. insured exclusion
-Inaccuracies in reporting the financial strength of a now bankrupt -insured to the carrier prior to the bankruptcy filing
-Additional coverage defenses
-Arbitration clauses
Marshall Gilinsky, Drexel Harris, Tandis Hassid Nili & Dennis Nolan

CLE credit: NY & NJ: 2.0 professional practice.
CA & PA: 1.5 general MCLE.


Original Recording Date: 10/10/2013

CLE Credits (60): 1.67 Total


Produced By:

New York City Bar Association

Course Materials

  • The Role of Insurance Law in Bankruptcy Proceedings: A Roadmap to Preserving & Asserting Rights
  • A Roadmap to Preserving & Asserting Rights PPT
  • Affirmation Document