liquidation News

CastlePoint National in California Ordered into Liquidation

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 …

Louisiana Universities to Receive $2.7M after Demise of HMO

Louisiana Insurance Commissioner Jim Donelon announced a favorable court order on the dissolution of health maintenance organization AmCare Health Plans of Louisiana Inc. (AmCare) that paves the way for more than $2.7 million to be paid to six Louisiana higher …

Concerns Raised about Coverage with Ohio Insurer’s Demise

Health care advocates and a U.S. senator are raising concerns that nearly 22,000 Ohioans could end up paying much more for health care as their struggling insurer winds down its operations. Republican Sen. Rob Portman has asked federal officials whether …

Ohio Court: Insurance Department May Take Over Health Insurer

The state’s insurance department is taking over a company that provides health insurance to nearly 22,000 residents, mainly in central Ohio. The move affects those holding InHealth Mutual policies from Coordinated Health Mutual Inc. The suburban Columbus-based company is organized …

Iowa Insurance Commissioner Sues Feds Over Failed Health Co-Op

Iowa Insurance Commissioner Nick Gerhart says federal health officials are unlawfully withholding millions of dollars owed to a failed health insurance co-op in his state. Gerhart, who is Liquidator for CoOportunity Health, filed suit against the U.S. Department of Health …

Louisiana Officials Tell Drivers Insured by Affirmative to Get New Coverage Now

Louisiana’s Office of Motor Vehicles reminds drivers whose vehicles are insured by Affirmative Insurance or Affirmative Casualty Insurance that they need to have new coverage by 11:59 p.m. Wednesday. Otherwise, says Commissioner Karen G. St. Germain, they could face a …

Liquidation Looms for Midwest Insurance Cooperative

An insurance cooperative created to provide health care in Iowa and Nebraska will be formally liquidated this weekend. Iowa Insurance Commissioner Nick Gerhart said that a Polk County judge has agreed to approve the liquidation plan. CoOportunity is a federally …

Michigan Orders American Fellowship Mutual Insurance into Liquidation

The American Fellowship Mutual Insurance Co. has been ordered into liquidation by Ingham County Circuit Judge William Collette at the request of the Michigan Department of Insurance and Financial Services (DIFS) Director Kevin Clinton. The request was granted on June …

Three Insurance Companies Placed in Liquidation in Illinois

Lumbermens Mutual Casualty, American Manufacturers Mutual Insurance, and American Motorists Insurance Companies have been placed in liquidation in Illinois, according to the state insurance department. State insurance guaranty associations will pay the companies’ claims, the department said. Illinois Department of …

Home Value Insurance Co. Dissolved

The rehabilitation of Calif.-based Home Value Insurance Co. (HVIC) has been ended and the corporation has been dissolved by order of the Franklin County, Ohio Court of Common Pleas, where the company was domiciled. According to the motion filed Dec. …