Immunity For [All] Some!

October 10, 2012

My Insight column for the September 24, 2012 issue of Insurance Advocate ( explores the issue of whether a receiver should receive immunity for managing the estate of an insolvent insurer and if so, whether that immunity should be granted on a case by case basis by the supervising court or by statute for all receivers.  While the topic of immunity for receivers has been debated for many years, the issue is particularly relevant today in view of the court’s grant of judicial immunity to the receiver and his agents in the Executive Life Insurance Company of New York matter where the company was not insolvent when placed into rehabilitation in 1991, but is now insolvent by more than $1.6 billion.  Does this grant of judicial immunity effectively prevent exploring the causes of the insolvency and, if appropriate, holding those responsible accountable?  A copy of the column is available from my website at

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