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You are here: Home / Reinsurance Transactions / Reserves / Fourth Circuit upholds negotiated reserve allocation for long term care policies

Fourth Circuit upholds negotiated reserve allocation for long term care policies

July 25, 2006 by Carlton Fields

The United States Court of Appeals for the Fourth Circuit affirmed a District Court decision granting summary judgment to a reinsurer, finding the negotiated contractual allocation of responsibility for complying the South Carolina's requirements for active life reserves for long term care policies was valid and enforceable, and not in violation of South Carolina law or public policy. Kanawha Insurance Corp. v. Employers Reinsurance Corp., Case No. 05-2206 (July 12, 2006).

Filed Under: Reserves

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