§ 27-14.3-36 - Reinsurer's liability. - Rhode-island Statutes

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SECTION 27-14.3-36

§ 27-14.3-36 Reinsurer's liability. –The amount recoverable by the liquidator from reinsurance shall not be reducedas a result of the delinquency proceedings, regardless of any provision in thereinsurance contract or other agreement. Payment made directly to an insured orother creditor shall not diminish the reinsurer's obligation to the insurer'sestate except when the reinsurance contract provided for direct coverage of anamed insured and the payment was made in discharge of that obligation.

State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-14-3 > 27-14-3-36

SECTION 27-14.3-36

§ 27-14.3-36 Reinsurer's liability. –The amount recoverable by the liquidator from reinsurance shall not be reducedas a result of the delinquency proceedings, regardless of any provision in thereinsurance contract or other agreement. Payment made directly to an insured orother creditor shall not diminish the reinsurer's obligation to the insurer'sestate except when the reinsurance contract provided for direct coverage of anamed insured and the payment was made in discharge of that obligation.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-14-3 > 27-14-3-36

SECTION 27-14.3-36

§ 27-14.3-36 Reinsurer's liability. –The amount recoverable by the liquidator from reinsurance shall not be reducedas a result of the delinquency proceedings, regardless of any provision in thereinsurance contract or other agreement. Payment made directly to an insured orother creditor shall not diminish the reinsurer's obligation to the insurer'sestate except when the reinsurance contract provided for direct coverage of anamed insured and the payment was made in discharge of that obligation.