MATTER OF PLAN FOR ORDERLY WITHDRAWAL


129 N.J. 389 (1992)

609 A.2d 1248

IN THE MATTER OF THE "PLAN FOR ORDERLY WITHDRAWAL FROM NEW JERSEY" OF TWIN CITY FIRE INSURANCE COMPANY.

The Supreme Court of New Jersey.

Decided July 29, 1992.


Attorney(s) appearing for the Case

Taylor R. Briggs, a member of the New York bar, argued the cause for appellants Twin City Fire Insurance Company, Hartford Fire Insurance Company, Hartford Accident and Indemnity Company, Hartford Casualty Insurance Company, Hartford Underwriters Insurance Company, Hartford Insurance Company of the Midwest, Hartford Insurance Company of Connecticut, New England Insurance Company, Hartford Life and Accident Insurance Company, and Hartford Life Insurance Company (LeBoeuf, Lamb, Leiby & MacRae, attorneys; Taylor R. Briggs and Wesley S. Caldwell, III, of counsel; Taylor R. Briggs, Wesley S. Caldwell, III, Laura B. Barry, James R. Martino and Stephen H. Orel, on the briefs).

Jack M. Sabatino, Assistant Attorney General, argued the cause for respondent Commissioner of Insurance (Douglas S. Eakeley, Acting Attorney General of New Jersey, attorney; Jack M. Sabatino and Carol Johnston, Deputy Attorney General, on the brief).

Elmer M. Matthews argued the cause for amicus curiae American Insurance Association (Clapp & Eisenberg, attorneys; Elmer M. Matthews and Frederic S. Kessler, on the brief).

Deborah T. Poritz submitted a letter in lieu of brief on behalf of amici curiae State Farm Mutual Automobile Insurance Company, State Farm Fire and Casualty Company, State Farm General Insurance Company, State Farm Life Insurance Company, and State Farm Annuity and Life Insurance Company (Jamieson, Moore, Peskin & Spicer, attorneys).

John J. Degnan, General Counsel, submitted a letter in lieu of brief on behalf of amici curiae Chubb Insurance Company of New Jersey, Federal Insurance Company, Vigilant Insurance Company, Pacific Indemnity Company, Great Northern Insurance Company and Chubb Custom Insurance Company.


The opinion of the Court was delivered by STEIN, J.

Twin City Fire Insurance Company (Twin City) challenges the constitutionality of the order issued by the Commissioner of Insurance (Commissioner) conditioning the termination of its authority to write insurance in New Jersey. Twin City objects primarily to two conditions: the so-called "forfeiture" condition, which requires that the separate corporations affiliated with Twin City as members of the ITT Hartford Group...

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