Testimony for receivers and regulators.

Expert reports and testimony given for state insurance receivers, liquidators, and rehabilitators, and for Departments of Insurance, in matters arising from the insolvency of an insurer.

About this practice area

Testimony in insurer insolvency.

When an insurer becomes insolvent, the state insurance regulator typically asks a court to place it in rehabilitation or liquidation, and a receiver takes control of the company. The receiver’s task is to marshal the company’s assets, resolve claims against the estate and, where the failure was caused by misconduct or negligence, pursue those responsible.

Expert testimony arises at several points in that process: in contested hearings over whether a company should be liquidated; in suits by the receiver against former directors, officers, auditors, actuaries, and other professionals; in disputes over the adequacy of the company’s reserves; and in challenges to a rehabilitation plan. The questions are usually operational: how the company handled and reserved its claims, whether its practices met industry and regulatory standards, and what that meant for policyholders and creditors.

The consulting side of receivership work, from estate adjudication to run-off, is described under Receivership & Insolvency Issues.

Testimony

For receivers and regulators.

Mr. Bingham has given expert reports, depositions, and trial testimony for state insurance receivers, liquidators, and Departments of Insurance.

Testifying expert · Report, Deposition, Trial

Three-month trial over a failed insurer’s directors and outside auditor

$2Bplea in the case

265claim files scored

800+page report

Receiver’s expert

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

Contested liquidation proceeding

Orderedinto liquidation

Receiver’s expert

Other matters

Claim audit of an insolvent carrier’s property lossesTestifyingEstate claims and auditsRead moreShow less

Retained by the Receiver of an insolvent carrier to perform a claim audit and examination of property losses. A random selection of the claim population was examined to form opinions about claim handling and payment to determine accuracy of payments and adequacy of claim file documentation.

Also listed under: Reserve adequacy studies · Claim audits and file scoring · Estate claim adjudication and audits · Receiver’s expert in suits against officers and professionals · Claims Handling Review

Six further insolvency matters in IllinoisTestifyingReceiver’s expertRead moreShow less

Six further matters for Illinois Directors of Insurance acting as receiver, liquidator, or rehabilitator of insolvent carriers: expert opinion reports and sworn deposition testimony, including one appearance as a fact witness.

Also listed under: Receiver’s expert in suits against officers and professionals

Challenge to a financial benefits insurer’s rehabilitation planTestifyingLife and annuityRead moreShow less

Retained as policy beneficiary’s expert in Rehabilitation of financial benefits insurance company to support allegations that Rehabilitation Plan may be potentially preferential and in violation of certain provisions of the state’s insurance code.

Also listed under: Life and annuity liquidations and rehabilitation

Life and annuity liquidations at the Illinois Office of the Special Deputy ReceiverConsultingLife and annuityRead moreShow less

As the Director of Insurance operations at the Illinois Office of the Special Deputy Receiver, worked on several liquidations involving annuities and life products. In these engagements Mr. Bingham oversaw early access payments to NOLHGA members, reviewed expenses, and collected blocks of reinsurance. As a member of OSD’s executive interfaced directly with NOLHGA committees on large, multi-state receiverships.

Also listed under: Life and annuity liquidations and rehabilitation

Expert Testimony

Reports, depositions, and trial testimony across every practice area, with the courts where Mr. Bingham has testified.

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Testimony for receivers and regulators.

Testimony in insurer insolvency.

For receivers and regulators.

Three-month trial over a failed insurer’s directors and outside auditor

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

Contested liquidation proceeding

Other matters

Elsewhere in Expert Testimony.

Expert Testimony

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