Battle Looms Over Reliance High-Deductible Policies Philadelphia has been a venue for many epic struggles, from the American Revolution to Rocky I. But the battles spawned by the Reliance liquidation promise to be among the most memorable in the insurance world, and the lengthiest.
Guaranty funds of 25 states have filed a lawsuit against Pennsylvania Insurance Commissioner Diane Koken in her capacity as liquidator of the Reliance estate, claiming that the funds are entitled to reimbursement of amounts that Reliance could have collected from policyholders that purchased high-deductible policies.
On the same day, the commissioner sued eight guaranty funds, contending that the deductible money should be distributed as any other asset of the Reliance estate. The Pennsylvania Insurance Department asserts that the date-stamp on its pleading proves that it preceded the funds through the courthouse door.
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