Key Insurance, a Kansas-based insurer specializing in non-standard auto, was placed into liquidation this week after a court ruled the company insolvent. The Shawnee County District Court ordered the liquidation of Key on March 31 after reviewing significant evidence that …
Cameron Mutual Insurance Company has been placed into court-supervised liquidation effective December 1, 2023, the Missouri Department of Commerce and Insurance (DCI) announced. Chlora Lindley-Myers, Director of the Missouri Department of Commerce and Insurance has been named liquidator of Cameron …
The 8th Judicial District Court of Nevada has ordered Friday Health Plans of Nevada into receivership and appointed Nevada Insurance Commissioner Scott Kipper as Receiver. Kipper initiated the petition for receivership on June 1 with the company’s consent due to …
The holding company for the insolvent FedNat Insurance Co. has filed for bankruptcy after an increase in severe weather events in the state weighed on its balance sheet, Bloomberg News reported. The company filed for Chapter 11 bankruptcy in Fort …
Federal prosecutors have said that Bradley Reifler, a New York-based investment manager, contributed greatly to the demise of North Carolina Mutual Life Insurance Co., the oldest black-owned insurance company in the United States. Last week, a judge sentenced Reifler to …
Insurer insolvencies are hard enough on policyholders and company executives, but local agents across Florida also are feeling the pain from one recent liquidation and may soon feel it from others. The Florida Department of Financial Services has notified agents …
Utah Insurance Commissioner Jon Pike, acting as liquidator of Arches Mutual Insurance Co. through his special deputy liquidator Stillman Consulting Services LLC, announced on Friday that checks are being sent to Arches’ medical providers for 100% of their approved claim …
The Pennsylvania Commonwealth Court has approved the liquidation of Bedivere Insurance Company, formerly One Beacon Insurance Company, recognizing that the company’s financial liabilities have exceeded its assets. Bedivere, a domestic stock property/casualty company based in Pennsylvania, has consented to the …
A portion of the personal auto insurance business of a Texas insurance company that appeared to be headed for liquidation at the end of November is being assumed by a Georgia-based insurer. Embark General, headquartered in Atlanta, said it is …
CastlePoint National Insurance Co., the California insurance company affiliate of the defunct Tower Group, has been ordered into formal liquidation, paving the way for protection of CastlePoint’s policyholders through the national system of insurance guaranty associations, California Insurance Commissioner Dave …
