Silence is golden: reinsurer ordered to pay prejudgment interest to insurance company’s liquidator on agreement silent as to interest

A New Hampshire insurance company, Home Insurance Company (“Home”), was placed in liquidation in 2003. When its reinsurer Century Indemnity Company (“CIC”) tried to claim an $8 million setoff from amounts owed to Home, the liquidator balked and demanded the $8 million.

Filed under:
USA, Insolvency & Restructuring, Insurance, Litigation, Carlton Fields, Liquidator (law)
Authors:
Abigail J. Kortz
Location:
USA
Firm:
Carlton Fields