X
    X
    X
    X

    Jonathan Bank and Al Bottalico Address Rhode Island’s Regulation 68 in Insurance Day

    Articles

    Jonathan Bank and Al Bottalico, both of Locke Lord’s Los Angeles office, provided legal insight in an article examining Rhode Island’s run-off legacy transfer system. The lawyers note that the protected cell structure could be an important tool in helping the Rhode Island market take off. According to Bank and Bottalico, “the protected cell option, if widely accepted by the regulators, would be an easier and/or more efficient process.”

    In addition, Bank and Bottalico note: “Regulation 68 sets a high bar to ensure a solvent run off. Business to be transferred must have a natural expiration which occurred more than 60 months prior to the filing of the insurance business transfer plan and be in a closed book of business or a reasonably specified group of policies.”

    To read the full article, click here (subscription may be required).

    Explore Additional Topics

    Disclaimer

    Please understand that your communications with Locke Lord LLP through this website do not constitute or create an attorney-client relationship with Locke Lord LLP. Any information you send to Locke Lord LLP through this website is on a non-confidential and non-privileged basis. Therefore, do not send or include any information in your email that you consider to be confidential or privileged.