The amount recoverable by the receiver from reinsurers may not be reduced as a result of delinquency proceedings, regardless of a provision in the reinsurance contract or other agreement. Payment made directly to an insured or other creditor does not diminish the reinsurer's obligation to the insurer's estate unless the reinsurance contract provided for direct coverage of a named insured and the payment was made in discharge of that obligation.
Section: Previous 21.78.250 21.78.251 21.78.252 21.78.253 21.78.260 21.78.270 21.78.271 21.78.272 21.78.280 21.78.281 21.78.290 21.78.291 21.78.292 21.78.293 21.78.294 NextLast modified: November 15, 2016