Complex Insurance Issues in Bankruptcy Proceedings: Sex Abuse Litigation, the Role of Insurers in Bankruptcy Planning, and Insurance Neutrality

DATE: Tuesday, October 10, 2023

TIME: 10:30 AM - 11:30 AM

VENUE: PLI New York, 1177 Avenue of the Americas, Entrance on 45th Street, New York, NY AND Online

ORGANIZER: Practising Law Institute Property and Casualty Insurance Law 2023

This session will provide an overview of concerns for insurers and litigants in mass tort situations – in particular, recent sex abuse and child abuse cases -- when defendants become or are insolvent.

The session will also focus on how sex abuse litigation has evolved and then turn to the general concept of insurance neutrality.  After completing this session, participants will be able to:

  • Gain an understanding of insurance coverage issues in cases involving claims of sexual abuse/child abuse: 
    • Understand what triggers coverage  
    • Explore how policy proceeds might be allocated in bankruptcy plans
    • Review policy exclusions
    • What if the policy is missing
  • Understand the extent to which insurance policies may or may not be available to continue business operations
  • Understand the role of insurers in negotiating a reorganization plan
  • Strategies to preserve insurers’ rights under insurance policies issued to the debtor (and/or rights as to others) that will be assigned to a Trust as part of the reorganization plan
  • Know when strategies to modify or assign policies or distribute policy proceeds require prior court approval
  • Assess how insurance neutrality may maximize asset value and mitigate risks to stability during reorganization

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