This course examines the regulatory, legal, and market forces governing the solvency of insurance companies. The course studies various regulatory tools used to assure solvency, including financial examination, risk-based capital, and rating agency and company monitoring. The course explores the solvency process, including financial monitoring, rehabilitation, and liquidation. The legal rights and obligations of various stakeholders, including policyholders, creditors, reinsurers, guaranty funds, taxpayers, and shareholders, are analyzed. The course reviews applicable statutes as well as case law developed as a result of the various insolvencies that have occurred.