Arrowood Indemnity, the runoff entity for Royal Indemnity and Royal Globe (Royal), was declared insolvent by the Delaware commissioner of insurance on November 6, 2023. This action was taken through the filing of a complaint for entry of a liquidation and injunction order with a bar date. The commissioner has suggested a bar date of January 15, 2025, which will be the last date claims against Arrowood will be allowed. Thousands of policyholders seeking insurance recovery may be affected.
Background
Arrowood Indemnity was approved to runoff claims against Royal by the Delaware insurance commissioner in 2007. In response to policyholder criticisms of the establishment of Arrowood, the commissioner required the appointment of a claims monit…
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