The Attorney General of Canada v. Reliance Insurance Company (Canadian Branch)
Approval and Discharge Order
On December 6, 2018, the Ontario Superior Court of Justice (Commercial List) granted an Approval and Discharge Order which, among other things, approved an Assumption Reinsurance Agreement (“ARA”) between Westport Insurance Corporation Canada Branch (“Westport Canada”) and KPMG Inc., in its capacity as Liquidator of Reliance Insurance Company (Canadian Branch) (“Reliance Canada”). Under the ARA, Reliance Canada insurance policies under which claims remain outstanding as of closing (``Remaining Policies``) are transferred to, and assumed by, Westport Canada as a going concern carrier. Certain reinsurance in place for these policies is also transferred to Westport Canada as the assuming carrier.
The ARA transaction closed on December 21, 2018. Accordingly, pursuant to the Approval and Discharge Order, the liquidation of Reliance Canada has been terminated, the Liquidator has been discharged, and Reliance Canada has no further policy liabilities or other liabilities. Eligible claims under the Remaining Policies may be made only against Westport Canada.
Pursuant to the ARA, Westport Canada is required to send assumption certificates in respect of the Remaining Policies within sixty (60) days following the closing.
A copy of the Approval and Discharge Order and a copy of the Liquidator’s Report of November 27, 2018 can be found below.
Introduction
Pursuant to the Orders of the Honourable Mr. Justice Farley of the Ontario Superior Court of Justice (Commercial List) dated December 3, 2001 (the "Winding-Up Order" and the "Appointment Order"), the Canadian insurance business of Reliance Insurance Company ("Reliance Canada") was ordered to wound-up pursuant to the Winding-Up and Restructuring Act (Canada), and KPMG Inc. was appointed Provisional Liquidator.
Reliance Canada is the Canadian branch of Reliance Insurance Company, a property and casualty insurer in the United States of America. Reliance Insurance Company was placed in liquidation in Pennsylvania on October 3, 2001. The Insurance Commissioner for the Commonwealth of Pennsylvania is the Court-appointed liquidator of Reliance Insurance Company.
Call for Policyholder Loss Claims
On December 3, 2001, the Ontario Superior Court of Justice (the "Court") ordered the winding-up of Reliance Canada, under the provisions of the Winding-up and Restructuring Act, and appointed KPMG Inc. as liquidator (the "Liquidator").
The Liquidator of Reliance Canada hereby gives notice that the Court has fixed December 17, 2010 as the last day for policyholders, insureds or claimants with Policy Loss claims to submit to the Liquidator their claims for loss under or arising out of a Reliance Canada policy. If you have any claims for loss under or arising out of a policy of Reliance Canada (including any existing, new, future, contingent, known or unknown, reported or unreported, liquidated or unliquidated claims), you must complete a Proof of Claim for Policy Loss Claim ("POC") and submit it to the Liquidator in accordance with the procedure set by the Court by Order made August 3, 2010. For copies of all documents related to the Claims Process, please see below.
Call for Ordinary Creditor Claims
On December 3, 2001, the Ontario Superior Court of Justice (the “Court”) ordered the winding up of Reliance Canada, under the provisions of the Winding-up and Restructuring Act, and appointed KPMG Inc. as liquidator (the “Liquidator”).
Please be advised that the Court has fixed Tuesday, the 30th day of September, 2008 as the last day for ordinary creditor claimants of Reliance Canada to send in their claims. If you are aware of any claims that you may have arising from your relationship as an agent or broker, or otherwise, other than Policy Loss Claims, please complete the attached Notice of Claim form, which must be submitted by September 30, 2008. For copies of all documents related to the Claims Process, please see below.
