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DOL Says 'Reinsurance' Company Can't Ignore State Insurance Company's Cease-and-Desist Order
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] 
Feb. 25, 2003 Advisory Opinion number 2003-03A, dated February 13, 2003. Excerpt: [I]t would be imprudent in the Department's view for a fiduciary to use plan assets to tender premiums to an unlicensed insurer that is subject to a cease and desist order, issued under applicable state insurance law, which prohibits the insurer's receipt of those premiums. MORE >> |
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