One need look no further than the Texas, Florida and Puerto Rico hurricanes to appreciate the compelling public policy that insurance companies should have sufficient resources to pay claims when due.
Having all the insurance coverage in the world matters little if the carrier lacks sufficient funds to satisfy its policy obligations when triggered.
|Insurance solvency
This principle of insurance solvency has been one of the bedrocks of insurance law for decades, giving rise to a myriad of regulatory requirements and processes designed to ensure that insurance companies have sufficient capital to absorb losses.
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