Oklahoma Insurance Commissioner Carroll Fisher placed Hospital Casualty Co. into receivership after its Board of Directors requested the action. Hospital Casualty provides medical liability insurance to hospitals and nursing homes in Oklahoma The receivership decision was made after a detailed review of the company’s financial condition and its prospects for policy renewals. Receivership will allow the Oklahoma Insurance Department to further review the company’s financial status and determine the best course of action to protect the interests of the policyholders and others who have an interest in Hospital Casualty. Policies will remain in effect as the company works through the transition with the insurance department. Policyholders should contact their agents to discuss replacing their policies at their earliest opportunity. Anyone with questions concerning Hospital Casualty should call the company at (405) 290-5774. Policies are expected to be in place through Oct. 1. The Associated Press and the Oklahoman reported the company’s reserve deficit had grown to $57.9 million at the end of June. The insurer’s closure is anticipated to leave 63 hospitals and 231 nursing homes without coverage.
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