How Voidable Preferences Can Kill The Perfect Deal

Law360, New York (April 21, 2009, 12:00 AM EDT) -- There is no doubt that the current global financial crisis is taking its toll on nearly every industry. The insurance industry has not been spared from this crisis, and insurers are taking a hard look at their operations to identify strategies to preserve capital and minimize exposure.

As part of this risk assessment, many insurers are reviewing the credit risk presented by their reinsurance and considering the use of commutations and settlements to alleviate exposure to financially troubled counterparties.

Depending on the circumstances, however, such commutations...
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