For what appears to be the first time in the state’s history, a Commonwealth Court judge has denied the Pennsylvania Insurance Department’s request to liquidate two insurers and offered some strong language about the department’s failure to help rehabilitate the insurers.
In a 173-page opinion, Judge Mary Hannah Leavitt denied a request by Michael F. Consedine, Pennsylvania’s insurance commissioner, to liquidate Penn Treaty Network America Insurance Co. and its subsidiary, American Network Insurance Co. Consedine had been brought in to rehabilitate the two long-term care insurers but then requested those rehabilitations be converted into liquidations, according to the opinion in Consedine v. Penn Treaty Network America Insurance.
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