NCOIL Advances Model STOLI Act To Legislators

The National Conference of Insurance Legislators has restated its commitment to a Life Settlements Model Act adopted by its Executive Committee in November.

In a letter sent to legislative leaders and insurance committee chairs of the NCOIL, Brian Kennedy, a legislator from Rhode Island who is president of the group, reaffirmed the NCOIL’s belief that the model will address alleged abuses involving stranger-owned life insurance.