§ 27-64-2 - Purpose. - Rhode Island Statutes

SECTION 27-64-2

   § 27-64-2  Purpose. – This act is adopted to provide a basis for the creation of protected cells by adomestic insurer as one means of accessing alternative sources of capital andachieving the benefits of insurance securitization. Investors in fully fundedinsurance securitization transactions provide funds that are available to paythe insurer's insurance obligations or to repay the investors or both. Thecreation of protected cells is intended to be a means to achieve moreefficiencies in conducting insurance securitizations.