Carpenter Technology Corp. v. Admiral Insurance

I would affirm the judgment of the Appellate Division substantially for the reasons expressed in Judge Bilder’s persuasive opinion. Carpenter Tech. Corp. v. Admiral Ins. Co., 335 N.J.Super. 510, 762 A.2d 1066 (2000). Based on a straightforward analysis, the panel determined that when the Legislature used the phrase “reduced by the amount of recovery” in N.J.S.A 17:30A-12a, it meant what it said, namely, that “NJPLIGA is entitled to credit only for the amounts actually received by plaintiff from [PPCIGA].” Carpenter, supra, 335 N.J.Super. at 516, 762 A.2d 1066. The majority has reached an…