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.
Was this article valuable?
Here are more articles you may enjoy.
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
Nine-Month 2025 Results Show P/C Underwriting Gain Skyrocketed 
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
