rehabilitation News

Contractor Fraud Leaves Some Rebuilding Five Years After Sandy

After Superstorm Sandy flooded the first floor of his New Jersey home with 4 feet of water, Rich Bindell shelled out tens of thousands of dollars to a contractor he knew was approved by the state and had done other …

N.J. Senator Urges Officials to Speed Up Sandy Rebuilding Aid Distribution

Government officials must speed the way home rebuilding aid is getting to thousands of New Jersey victims of Superstorm Sandy, which can be done in part by revamping a burdensome application process, a senator from the storm-battered state said Wednesday. …

Missouri Regulator: Barton County Mutual Back on Solid Ground

Financial conditions at Missouri’s Barton County Mutual Insurance Co. are strong enough that the company can be released from state oversight, a judge has ruled. A Barton County judge has granted a motion by the department of insurance to release …

Court Orders Rehabilitation for Home Value Insurance Co.

Home Value Insurance Co. was ordered into rehabilitation by an Ohio court on Aug. 31, 2012, and has been prohibited from selling insurance in the state due to its failure to maintain minimum capital and surplus. The insurer, which originally …

Illinois’ Millers First Insurance Co. Agrees to Rehabilitation

Illinois insurance regulators reported that Millers First Insurance Co. (Millers First) has agreed to be placed into rehabilitation. While the Alton, Ill.-based company is in rehabilitation, Illinois Department of Insurance (DOI) Director Andrew Boron, as rehabilitator, will continue the payment …

Illinois Places 2 Mutual Insurers into Rehabilitation

Illinois insurance regulators announced that Lumbermens Mutual Casualty Co. (Lumbermens) and American Manufacturers Mutual Insurance Co. (American Manufacturers) have agreed to being placed into rehabilitation. The Illinois Department of Insurance said under an Agreed Order of Rehabilitation payment of policyholder …

Court Approves Majestic Insurance Rehabilitation Plan

A San Francisco Superior Court has approved California Insurance Commissioner’s rehabilitation plan for Majestic Insurance Co., a failed workers’ compensation insurance carrier. Under the plan, Majestic’s insurance liabilities and certain assets will be transferred to AmTrust North America Inc., which …

Two Florida Insurers Face Insolvency Actions: Seminole, AequiCap

Two Florida insurers are facing regulatory action as the state’s Office of Insurance Regulation (OIR) ordered commercial insurer AequiCap Insurance Co. into liquidation and suspended the license of insurer Seminole Casualty Insurance Co. The Fort Lauderdale-based AequiCap was taken over …