- To increase the cash portion of all settled claims to 60% from the current 50%. As a consequence the Deferred Payment Obligation ("DPO") retained in claim reserves would be reduced to 40% from the current 50% level.
- To authorize RMIC to execute the DPO-based run-off plan under ORI's ownership and NCDOI supervision of RMIC to assure the most efficient and economically sound realization of ultimate benefits to policyholders.
- To ensure the continued operation of RMIC under supervision during such future period of time as necessary to accomplish the above objectives.
Old Republic Announces The Filing Of A Corrective Plan For The Run-Off Of Its RMIC Mortgage Guaranty Unit
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