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Bluewater V Balzano.pdf

6-Bluewater-Ins._-Ltd.-v.-Balzano_-823-P.2d-1365.pdf

🔗 Source: legisource.net

📊 Size: 154 KB

📄 Pages: 14 pages

⬇️ Downloads: 73

Summary

Bluewater Ins., Ltd. v. Balzano, 823 P.2d 1365, was a Supreme Court of Colorado case decided on January 13, 1992. The court held that a reinsurer must pay in full the policy liabilities of an insolvent ceding insurer without diminution, abrogating any right of the reinsurer to offset unpaid premiums from the reinsurance proceeds due. The Colorado insurance code requires a reinsurer to pay the full amount of reinsurance proceeds due to the receiver for the benefit of the insureds, and the reinsurer holds the full amount of reinsurance liability credits in a fiduciary capacity. The court affirmed the lower court's decision, which granted the motion for summary judgment of the commissioner, as receiver in liquidation of an insolvent primary insurer, in the commissioner's declaratory judgment action against reinsurers requesting determination of reinsurance proceeds due.

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Description

Bluewater Ins., Ltd. v. Balzano, 823 P.2d 1365, was a Supreme Court of Colorado case decided on January 13, 1992.

Technical Information

File Format: PDF
File Size: 154 KB
Pages: 14
Language: EN
Total Downloads: 73
Last Updated: 1 week ago

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