Policyholders of the insolvent Legion and Villanova Insurance companies who can show that they have third-party beneficiary rights have direct access to reinsurance proceeds, the Pennsylvania Supreme Court affirmed July 19, 2003 (M. Diane Koken v. Legion Insurance Co., No. 204 MAP 2003, Pa. Sup.).
Evan S. Schwartz
Founder of Schwartz, Conroy & Hack