Life Insurance Premiums Not Debt In Rehabilitation Row, Connecticut Judge Says

( June 5, 2025, 8:45 AM EDT) -- WATERBURY, Conn. — Following oral arguments, a Connecticut judge clarified the interpretation of debt under the Connecticut Insurers Rehabilitation and Liquidation Act (CIRLA), opining that the argument advanced by three asset managers — that premiums owed on their life insurance policies issued by PHL Variable Insurance Co., currently in rehabilitation, constitutes debt — conflicts with binding precedent established by a long-standing ruling....