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Rhode Island reviewing run-off breakthrough
27 July 2010
The US state of Rhode Island is reviewing the first-ever proposed discharge and liquidation of obligations of a solvent insurer in the US, according to law firm Morrison & Foerster.
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run-off
commutation
GTE REinsurance
The US state of Rhode Island is reviewing the first-ever proposed discharge and liquidation of obligations of a solvent insurer in the US, according to law firm Morrison & Foerster.
On July 21, GTE REinsurance Company Limited, a solvent reinsurer based in Providence, Rhode Island, appeared before the Providence County Superior Court at a hearing to obtain approval to put a commutation plan before the reinsurer’s creditors so they may vote for its passage.
The...
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