September 18, 2012
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 …
September 11, 2012
In the past 12 years, only eight reinsurers have been declared insolvent despite paying claims of more than $150 billion from events including the World Trade Center attacks, hurricanes Rita, Wilma and Katrina, the Great Tohoku earthquake, and the Thailand …
April 21, 2011
The former owners of Aries Insurance Co. are on the hook for millions after a Miami-Dade District Court found them guilty of diverting funds for personal use. Florida CFO Jeff Atwater said that a Miami-Dade Circuit Court entered a $76 …
March 14, 2011
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 …
March 3, 2011
A Tennessee judge has set May 16 as the final date to resolve all outstanding claims against three insolvent risk retention groups that were closed in 2003 after the failure of their Virginia reinsurer, Reciprocal of America. Three Tennessee companies …