On July 18th, the liquidator of the Home Insurance Company ("Home") reached an agreement with the United States government to waive federal priority claims in the liquidation. The agreement clears the way for Home to begin paying a 10% distribution on agreed claims; the distribution was approved by the court in November 2015 but was contingent upon an acceptable waiver of federal priority claims. The total distribution paid to policyholders with agreed claims is now 25%.
Please let us know if you have any questions regarding this notice.
Click here to join the London Market Email Updates List. In addition to general notice, KCIC maintains client policy details to ensure timely identification of applicable coverage and to provide specific guidance as it relates to upcoming vote/bar dates. If you would like us to include your coverage in these reviews, please contact Nick Sochurek at (202) 772-3909 for more details.
Although KCIC actively monitors developments in the market, we cannot guarantee inclusion of all key updates as some are not readily available and/or made public.
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