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 …
New York is considering asking property and casualty insurers to cover the claims of insolvent taxi insurer American Transit Insurance Co., according to people familiar with the plans. That measure is one of several options under discussion as the state’s …
New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition. The report laid out dozens of potential financial improprieties and accounting problems at …
New York’s insurance regulator issued a damning report laying out the severely flawed financial condition of New York’s largest insurer of taxis and for-hire vehicles, as well as dozens of potential financial improprieties and accounting problems, warning that the consequences …
Arkansas’ United Home Insurance was placed in receivership by the Pulaski County Circuit Court on September 6. Arkansas Insurance Commissioner Alan McClain was appointed receiver. United Home consented to the receivership for the purpose of its rehabilitation. The receivership does …
The District Court of Shawnee County, Kansas has declared MutualAid eXchange (MAX) insolvent, and the company has been placed into liquidation pursuant to a petition filed by the Commissioner of Insurance. The court ruled MAX to be insolvent on August …
Legal and professional services firm Ince Group Plc plans to enter administration and pursue a sale of the company, it said on Wednesday, amid cash concerns and repeated delays in reporting its financial results. Ince’s directors applied to London’s High …
Less than a year after it announced it would stop writing new business in Florida, commercial carrier Capacity Insurance has been placed under administrative supervision and is now in an orderly runoff. The Florida Office of Insurance Regulation said in …
Kentucky’s governor this week signed into law a bill that seeks to make one thing perfectly clear: The Kentucky Insurance Guaranty Association will not pay claims from defunct self-insurers that are not members of the association. “The new law basically …
Louisiana Commissioner Jim Donelon is notifying property/casualty insurers that they will receive credit toward the Insure Louisiana Incentive Program’s grant requirements for assuming United Property & Casualty Insurance Co. policies before they are canceled by the Florida judicial system on …
