Locke Lord Of Counsel Jonathan Bank and Insurance Specialist Al Bottalico, both of the Firm’s Los Angeles office, co-wrote an article covering in-depth Rhode Island Regulation 68. In examining the state’s revision of its Voluntary Restructuring of Solvent Insurers Act, the authors noted: “An advantage of Reg. 68 is that it permits a Rhode Island company to set up individual protected cells, thus allowing that company to assume disparate books of business, and then to either retain or reinsure the business as part of the business transfer plan.”
To read the complete article, including best practices in utilizing a Rhode Island domestic for run-off purposes as well as potential roadblocks in the process, click here.
Reprinted with permission from AIRROC Matters, Spring 2017.