Insight and Intelligence on the London & International Insurance Markets 18 Mar 2018
Insurers face $130mn loss on PatNat D&O cover
- 15 February 2018
Insurers that provided $130mn of directors' and officers' (D&O) cover to Patriot National could face total losses on the policies unless a US bankruptcy court forces mediation of covered legal claims and temporarily halts related litigation, according to recent court filings.
But even if pending claims are settled through mediation without exhausting the policies, what remains would likely become part of the pool of assets available to creditors, the filings indicate.
Carriers listed in a notice concerning mandatory mediation include...
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