About this practice area

Reserves and solvency.

An insurer’s solvency depends on the adequacy of its reserves. When a carrier is under regulatory scrutiny, in supervision, or in receivership, the question of what its claims will really cost decides whether it can be rehabilitated, must be liquidated, or has been misstating its condition.

Reserve studies in this setting are often contested: they may be presented in court, relied on by a regulator deciding whether to act, or used in litigation over how the company reached its condition.

A carrier's reserves charted over time, sinking through the required-reserve line drawn solid, the breach flagged amber
Engagements

Where solvency is in question.

Studies for Directors of Insurance and receivers, with reports and trial testimony in contested proceedings.

Testifying expert · Report, Deposition

Errors-and-omissions suit against a failed risk retention group’s directors, auditors, and actuaries

2-daydeposition
Finalreport issued
Settledafter the deposition

Receiver’s expert

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Retained by the Special Deputy Liquidator for a South Carolina domiciled medical malpractice risk retention group in Liquidation. The Special Deputy Liquidator is suing the company’s former directors and officers, accountants, auditors, and actuaries for errors and omissions. Mr. Bingham has completed an extensive review of the company’s claim files and information management systems and has issued a final report. Upon completion of Mr. Bingham’s two day deposition the cases settled on terms favorable to the Receiver and the South Carolina Department of Insurance.

Court of Common Pleas, Fifth Judicial Circuit, Richland County, South Carolina

Also listed under: Testimony for Receivers and Regulators · Claims Handling Review · Testimony record

Testifying expert · Report, Trial

Reserve studies

Almost everyline of business
Trialtestimony in receivership proceedings

Reserve studies

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Performed multiple reserve adequacy studies for property & casualty, life & accident, auto warranty, workers compensation carriers, professional liability, asbestos & environmental, and more. Reports and trial testimony was provided in contested receivership proceedings.

Also listed under: Carrier claims-practice reviews & audits · Reserve adequacy studies · Testimony record

Other matters

Reserve review of a taxicab risk retention groupTestifyingReserve studiesRead moreShow less

Retained as an expert to review the held reserves of a taxicab risk retention group. Upon Mr. Bingham’s final report of audited claim files, the group was ordered into liquidation.

Also listed under: Carrier claims-practice reviews & audits · Reserve adequacy studies

Reserve study of a medical malpractice risk retention group in liquidationConsultingReserve studiesRead moreShow less

Retained by the South Carolina Director of Insurance to perform a reserve adequacy study of a medical malpractice risk retention group, in liquidation. Held reserves were increased as a result of the recommendations in Glynloen’s final report.

Also listed under: Reserve adequacy studies

Engage GIC

Have a receivership or insolvency matter?

Start with a conflict and availability check.