On Oct. 2, 2002 the Arizona Department of Insurance suspended the license of Foundation Reserve Insurance Company (Foundation Reserve) due to its unsound financial condition. Consequently, Foundation Reserve is prohibited from writing any new insurance policies and they must non-renew their existing policies.
Currently, Foundation Reserve has over 17,000 outstanding automobile and homeowners policies in Arizona. Most of its business was in Maricopa, Pima, Navajo, Apache and Coconino.
Insurance news headlines delivered to your email.
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
