New York Hospital Insurer Files for Bankruptcy, Citing Child Sex Abuse Claims

[Jim Burton]

https://www.insurancejournal.com/news/e ... 844171.htm

A Bermuda captive that insured several New York hospitals affiliated with a leading Jewish not-for-profit organization says it is insolvent, citing millions of dollars in child sex abuse claims brought against it under the state’s Child Victims Act (CVA).

Northeast Insurance Co. has filed for “winding-up” of its business in Bermuda Supreme Court and has submitted a Chapter 15 filing in federal bankruptcy court in New York asking it to recognize those Bermuda liquidation proceedings.