Insolvent Insurers

RC 3903.02 establishes a priority of classes for payment of claims against an insolvent insurance company. However this section does not authorize the payment of interest on any claim.

The Insurers Supervision, Rehabilitation and Liquidation Act does not expressly authorize payment of open-ended interest to all claimants. RC 3903.02 (D) explicitly identifies the purpose of the Liquidation Act as the “protection of the interests of insureds, claimants, creditors and the public generally.”