Pari Passu Advocated By Policyholders Seeking To Intervene In Rehabilitation

( January 28, 2025, 3:56 PM EST) -- HARTFORD, Conn. — A second motion to intervene has been filed in the Connecticut state court rehabilitation proceeding of life insurer PHL Variable Insurance Co. and the subsidiaries that reinsure its liabilities, this one by two policyholders who say their policies are worth millions and want a moratorium order to be modified to pay death benefits on a pari passu basis instead of capping such benefits at $300,000....