Below is a partial list of receivership proceedings in other states. For more information on a specific receivership, please click on the appropriate link. This should take you to a website that is providing relevant information on the status of the receivership.
Disclaimer: This list should not be considered a complete list of all receivership proceedings in other states. This list only consists of other state receiverships which have provided this Division with website links. If you are trying to locate information on a receivership that is not on this list, please contact the state insurance department of the state in which the insurance company is domiciled. If you do not know the state of domicile, the National Association of Insurance Commissioners (“NAIC”) should be able to assist by accessing their website at
www.naic.org
American Benefit Plans
(you are leaving the DFS website and opening a new browser window)
March 20, 2002 a temporary restraining order was issued by the State District Court
Judge Darlene Byrne of Texas to Place American Benefit Plans (ABP) into temporary
receivership. ABP, which does not have the required Texas insurance license has been
ordered to stop selling healthcare coverage to employers. ABP's bank accounts have
been frozen. Books, records, assets and other funds have been placed under the control
of Commissioner Jose Montemayor. Robet Loiseau of Jack M.Webb & Associates Inc. has
been appointed special deputy receiver to gather American Benefit Plans' assets for
the payment of claims and other obligations. Persons with questions about the
receivership may contact the Special Deputy Receiver's office at 800-551-4650 or
512-263-4650. Back To Top
Amwest Surety Insurance Company
(you are leaving the DFS website and opening a new browser window)
Declared Insolvent (www.amwest.com)
On 6/7/01 Lancaster District Court Judge John A. Colborn entered an order for the
liquidation of Amwest Surety Insurance Company, a Nebraska domiciled insurer based in
Calabasas, California. The liquidation order is based on a finding by Nebraska
Director of Insurance, L. Tim Wagner, that Amwest is insolvent. Back To Top
Far West Insurance Company
Liquidation
(www.nol.org/home/NDOI/notices/notice55.htm) An Order of Liquidation and Injunction
for Far West Insurance Company was entered by the District Court of Lancaster
County, Nebraska, November 9, 2001. Steven Ramsey of Fitz Gibbons, Ramsey and
Company, Inc., has been appointed Special Deputy Liquidator. Back To Top
Frontier Insurance Company
(you are leaving the DFS website and opening a new browser window)
Agrees to voluntary Rehabilitation (www.ins.state.ny.us/p0108241.htm)
The New York State Insurance Department and Frontier Insurance Company have reached
an agreement for Frontier to enter into voluntary rehabilitation. By a vote of the
board of directors, Frontier consented to entry of an order of rehabilitation pursuant
to Article 74 of the New York State Insurance Law. Upon approval of the rehabilitation
by the New York State Supreme Court in New York County, the Department will take
control of the property casualty insurance company. Back To Top
The North Dakota Department of Financial Services has temporarily revoked the Certificate
of Authority of Legion Insurance Company. You may view the North Dakota Court Order
here [51K PDF]. Back To Top
London Pacific Life & Annuity Company
(you are leaving the DFS website and opening a new browser window)
By Order entered August 6, 2002, London Pacific Life & Annuity Company ("London
Pacific") was placed in rehabilitation pursuant to the provisions of Article 30
of Chapter 58 of the North Carolina General Statutes, with Commissioner Long
appointed as Rehabilitator. The Rehabilitator and his staff believe that it is
realistic to work towards the development of a Plan of Rehabilitation with the
goal of returning London Pacific to a condition where all contractual claims of
policyholders can be honored. Information is currently being developed to inform
you of the status of the Rehabilitator's efforts concerning London Pacific.
Please be patient and check back often as further information is added. These
linked documents (you are leaving the DFS website and opening a new browser window) relate to
the rehabilitation of London Pacific Life & Annuity Company. Back To Top
National Foundation of America
(NFOA) (you are leaving the DFS website and opening a new browser window)
June 22, 2007 Nashville, TN. - Tennessee Department of Commerce and Insurance (TDCI) Commissioner Leslie Newman has been appointed by order issued by Chancellor Dinkins, Davidson County Chancery Court, as Rehabilitator for the National Foundation of America (NFOA), a company based in Franklin, Tennessee. Richard and Susan Olive, officers of NFOA, consented to entry of this Order. Back To Top
Paula Insurance Company
(you are leaving the DFS website and opening a new browser window)
California Insurance Commissioner Harry W. Low Obtains Liquidation Order For Paula Insurance Company
PASADENA – California Insurance Commissioner Harry W. Low today obtained an Order of
Liquidation for PAULA Insurance Company based on the worsening financial condition of
the company. PAULA, which is domiciled in California, is headquartered in Pasadena and
is a wholly owned subsidiary of Paula Financial. Back To Top
PHICO Insurance Company In Liquidation
(you are leaving the DFS website and opening a new browser window)
PHICO, a Pennsylvania domiciled company, was ordered liquidated on February 1, 2002,
by the Commonwealth Court of Pennsylvania. PHICO wrote workers' compensation and
medical malpractice insurance in the state of Florida. The Pennsylvania Receiver
has indicated that it will continue making claim payments. Questions regarding claims
should be referred to the Pennsylvania Receiver until further notice. Back To Top
SCC Named Receiver of Reciprocal of America (you are leaving the DFS website and opening a new browser window)
January 29, 2003 RICHMOND – The State Corporation Commission (“SCC”) today has
been named receiver by the Circuit Court of the City of Richmond for Reciprocal
of America (“ROA”) and ROA’s attorney-in-fact, The Reciprocal Group (“TRG”).
After an examination, the SCC’s Bureau of Insurance found ROA and TRG to be in a
hazardous financial condition.
ROA is a Virginia-domiciled insurance reciprocal writing primarily hospital
professional liability and workers’ compensation insurance. ROA and TRG are
headquartered in Glen Allen, Virginia.
ROA recently experienced financial difficulties because of poor claims
experience and the inability of its Bermuda-based reinsurer, First Virginia
Reinsurance, Ltd., to honor its reinsurance obligations. The Circuit Court has
appointed Commissioner of Insurance Alfred W. Gross as Deputy Receiver.
Commissioner Gross will make efforts to rehabilitate ROA and will oversee the
management of the company for the protection of its policyholders.
ROA will continue to pay all claims arising under ROA’s policies of insurance. A
moratorium has been placed on the payment of all other claims until the Deputy
Receiver completes his evaluation of ROA’s financial condition. ROA will no
longer issue new or renewal insurance policies.
The Bureau of Insurance continues to monitor the capacity of the insurance
market for professional liability insurance for health care providers.
Policyholders with questions about the receivership are encouraged to call the
SCC’s Bureau of Insurance. From within Virginia, the toll free number is (800)
552-7945. Callers may also dial direct at (804) 692-0467, or they may call ROA
at (804) 747-8600. Back To Top
Reliance Insurance Company in Liquidation (you are leaving the DFS website and opening a new browser window)
(www.insurance.state.pa.us/html/reliance_liq.html)
HARRISBURG (May 29) -- Pennsylvania
Insurance Commissioner M. Diane Koken this afternoon announced that the Commonwealth
Court of Pennsylvania has just granted the Insurance Department's request to place
financially troubled Reliance Insurance Company into rehabilitation, effective
immediately.
The North Dakota Department of Financial Services has revoked the Certificate of
Authority of Reliance Insurance Company. You may view the North Dakota Court
Order here [42K PDF].
Back To Top
Solidarity Health Plan
(you are leaving the DFS website and opening a new browser window)
(SHP)
May 10, 2002, the Texas Insurance Commissioner Jose Montemayor issued an emergency
order directing this unlicensed health plan to stop doing business in Texas. SHP
operated out of the same location and operated by some of the same parties as
National Guild of Medical Professionals Health and Welfare Benefit Trust Plan (NGMP).
After the discontinuance of NGMP, Solidarity Health Plan accepted some of the
enrollees of NGMP. Back To Top
The North Dakota Department of Financial Services has temporarily revoked the Certificate of
Authority of Villanova Insurance Company. You may view the North Dakota Court Order
here [52K PDF]. Back To Top
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