American National Insurance v. Low

Opinion

CURRY, J.

This case involves the proper interpretation of the statutory provisions which prioritize claims among creditors of insolvent insurance companies, and govern the obligations of the California Insurance Guarantee Association (CIGA) to policyholders of insolvent member insurers. Under the Insurance Code, CIGA is obligated to pay an insolvent member insurer’s “covered claims,” which are defined, on the one hand, to include all obligations of the insurer arising from an insurance policy and, on the other, to exclude all'obligations to insurers. (Ins. Code, § 1063.1, subd. (c).)…