Michigan’s Meadowbrook Insurance Group announced that its operating subsidiary, Meadowbrook, Inc. has entered into two new fee-for-service agreements with the Director of the Missouri Department of Insurance [MDI] in his capacity as Rehabilitator for Casualty Reciprocal Exchange and Equity Mutual Insurance Company.
The move follows an order on December 19 placing the two companies, who are members of the Kansas City-based Dodson Group, under the control of the MDI following an agreement that Meadowbrook would acquire their tangible assets and renewal rights for existing insurance policies.
The multi-year contracts include a Claims Services Agreement, under which Meadowbrook will provide claims handling services for all current and yet to be reported claims for the Companies, and a Management Services Agreement, which provides for it to carry out administrative service functions for the Companies while they are in rehabilitation.
Meadowbrook President and CEO Robert S. Cubbin commented, “We are pleased that Meadowbrook can be of service to the Missouri Department of Insurance. This is an opportunity to leverage our existing resources in the Kansas City area and is consistent with our plan to growth of fee-based revenues.”
Topics Missouri
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