Case Number:
21STCP00502
Hearing Date:
May 17, 2021
Dept:
31
PETITION FOR APPROVAL OF BUYOUT AND RELEASE AGREEMENT IS GRANTED.
Background
On February 16, 2021 Petitioner California Insurance Guarantee Association (“CIGA”) filed the instant petition for court approval of a buyout and release agreement of certain future annuity obligations owing to Respondent Diane Strong pursuant to Insurance Code section 10139.5.
The petition states that CIGA, a statutory entity obligated to pay certain “covered claims” of insolvent insurers under the provisions of Article 14.2 of the Insurance Code, became involved in this matter due to the declaration of insolvency of Northwestern National Insurance Company (“NNIC”) in 2019. CIGA asserts it is a successor as to certain of NNIC’s obligations qualifying as “covered claims” under Article 14.2 of the Insurance Code.
NNIC was a liability insurer whose insured allegedly injured Respondent’s son Michael Strong in or before 1986. In se
Hearing Date
May 17, 2021
Type
Other Civil Petition (General Jurisdiction)
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Case Number:
21STCP00502
Hearing Date:
May 17, 2021
Dept:
31
PETITION FOR APPROVAL OF BUYOUT AND RELEASE AGREEMENT IS GRANTED.
Background
On February 16, 2021 Petitioner California Insurance Guarantee Association (“CIGA”) filed the instant petition for court approval of a buyout and release agreement of certain future annuity obligations owing to Respondent Diane Strong pursuant to Insurance Code section 10139.5.
The petition states that CIGA, a statutory entity obligated to pay certain “covered claims” of insolvent insurers under the provisions of Article 14.2 of the Insurance Code, became involved in this matter due to the declaration of insolvency of Northwestern National Insurance Company (“NNIC”) in 2019. CIGA asserts it is a successor as to certain of NNIC’s obligations qualifying as “covered claims” under Article 14.2 of the Insurance Code.
NNIC was a liability insurer whose insured allegedly injured Respondent’s son Michael Strong in or before 1986. In se