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State Courts -
New Jersey - December 13 - December 19, 2007
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In re Liquidation of Integrity Ins. Co., A-91 September Term 2006, A-29 September Term 2007,
SUPREME COURT OF NEW JERSEY, December 13, 2007, Decided
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Overview: In the liquidation of an insolvent insurer, the trial court erred by approving a plan that called for or estimating, and, in some cases, allowing incurred but not reported (IBNR) claims, because under N.J. Stat. Ann. § 17:30C- 28(a)(1), IBNR claims were contingent, not absolute, and thus could not share in the distribution of the estates assets.
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