BARBERA, J.
When a property or casualty insurer becomes insolvent, the Maryland Property & Casualty Insurance Guaranty Corporation ("PCIGC") assumes responsibility for any outstanding claims or litigation. In the case before us, an insurance company settled a claim with an insured party but became insolvent before the agreement could be approved by a court. Maryland Code (1995, 2011 Repl.Vol.), § 9-306(e)(1)(ii) of the Insurance Article,
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