An Ohio court has ordered Proliance Insurance Co. be placed into rehabilitation based on a request by the Ohio Department of Insurance Director Lee Covington. Proliance is a Columbus, Ohio, domiciled property and casualty insurer.
In rehabilitation, Proliance Insurance Company will be operated by the Ohio Department of Insurance. The day-to-day operations of Proliance remain unchanged at the present time. The Department of Insurance and the staff of Proliance have been working and will continue to negotiate a sale of the Proliance’s book of business or to re-capitalize the company.
Proliance Insurance Co. conducts business primarily in Ohio writing an estimated $3 million in premiums per year. Proliance primarily writes preferred risk homeowners and automobile insurance. Proliance was placed into rehabilitation because they were found to be insolvent with a surplus falling below the required statutory minimum.
Topics Ohio
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