File #: 19-1095    Version: 1 Name: Reliance Insurance Company January 2018
Type: Miscellaneous Item of Business Status: Approved
File created: 1/8/2019 In control: Board of Commissioners
On agenda: 1/24/2019 Final action: 1/24/2019
Title: PROPOSED MISCELLANEOUS ITEM OF BUSINESS Department: Department of Risk Management Request: Authorization to accept payment $2,884,123.98 as payment from the Liquidator of Reliance Insurance Company. Summary: Reliance Insurance Company provided general liability and workers' compensation coverage during the construction of the John H. Stroger, Jr. Hospital. As a result of Reliance's liquidation, the County became responsible for funding existing and new general liability and workers' compensation claims. The County has assembled and submitted the supporting documentation required to the Liquidator of Reliance Insurance Company. The Commonwealth Court of Pennsylvania approved a distribution of ninety-two percent based on the Liquidator's recommendation. Further distributions are subject to the Liquidator's analysis of the financial resources available to satisfy claims and approval by the Commonwealth Court of Pennsylvania.
Indexes: DEANNA ZALAS, Director, Department of Risk Management

title

PROPOSED MISCELLANEOUS ITEM OF BUSINESS

 

Department:   Department of Risk Management  

 

Request: Authorization to accept payment $2,884,123.98 as payment from the Liquidator of Reliance Insurance Company.

 

Summary:  Reliance Insurance Company provided general liability and workers’ compensation coverage during the construction of the John H. Stroger, Jr. Hospital.  As a result of  Reliance’s liquidation, the County became responsible for funding existing and new general liability and  workers’ compensation claims. The County has assembled and submitted the supporting documentation required to the Liquidator of Reliance Insurance Company.  The Commonwealth Court of Pennsylvania approved a distribution of ninety-two percent based on the Liquidator’s recommendation.  Further distributions are subject to the Liquidator’s analysis of the financial resources available to satisfy claims and approval by the Commonwealth Court of Pennsylvania.

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