Old Republic International Corp. is seeking state regulators’ approval of a revised run-off plan for its mortgage guaranty unit, Republic Mortgage Insurance Co., which proposes to pay 60 percent of all settled mortgage-insurance claims, up from 50 percent, and defer the remaining 40 percent until claim reserves are sufficient to pay the balance in full. The North Carolina Department of Insurance, RMIC’s primary regulator, is reviewing the so-called 60-40 corrective plan, which ORIC wants to remain in place at least through Dec. 31, 2021, while RMIC continues to operate under supervision of state regulators. The plan is designed...