Maryland Insurance Commissioner Beth Sammis has suspended the license of Oklahoma-based Imperial Casualty and Indemnity Co., after a district court in its home state ordered the company liquidated.
Oklahoma regulators moved to seize the workers’ compensation insurer in April, alleging that its owners orchestrated several complex transactions aimed at deceiving the state over the financial soundness of the company.
Imperial has been licensed to write in Maryland since 1963.
The order requires the company to cease writing new and renewal business in the state.
Was this article valuable?
Here are more articles you may enjoy.
Best Agency to Work For – Overall Winner: Robertson Ryan Insurance 
Florida Jury Awards Jack Nicklaus $50M in Defamation Suit vs. His Former Company 
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry 
‘Massive Legal Siege’ Against Social Media Companies Looms 
