Printer Friendly

LONG TO REVOKE LICENSE OF PENNSYLVANIA INSURER

 RALEIGH, N.C., July 1 /PRNewswire/ -- Insurance Commissioner Jim Long is initiating revocation of license proceedings against American Integrity Insurance Company. The company had been ordered in May to stop writing new policies in North Carolina because of continuing concerns over the company's financial conditions.
 American Integrity Insurance Company, a Pennsylvania-based health insurer, was found insolvent and placed in liquidation effective June 25, 1993, by the Pennsylvania courts. The company had been licensed to operate in North Carolina since Dec. 21, 1984.
 "We moved as soon as we became aware of the extent of the problem," Commissioner Long said. "This company primarily sold Medicare supplement and long-term care insurance policies, and although it was not a major health insurer in the state, we reacted quickly to protect North Carolina senior citizens."
 To protect North Carolina's insurance consumers, Commissioner Long had recently approved the sale of a block of the company's North Carolina medicare supplement policies to another insurer. The sale of the remainder of the North Carolina policies to another insurer will be pursued by his staff and the North Carolina Life and Health Insurance Guaranty Association.
 All covered claims of North Carolina residents will be guaranteed by the North Carolina Life and Health Insurance Guaranty association up to a maximum of $300,000 per person.
 -0- 7/1/93
 /CONTACT: June Milby of the N.C. Department of Insurance, 919-733-5238/
 (AIIC)


CO: N.C. Department of Insurance; American Integrity Insurance Company ST: North Carolina, Pennsylvania IN: INS SU:

CM -- CH016 -- 7938 07/01/93 16:59 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 1, 1993
Words:258
Previous Article:LIFSCHULTZ APPEAL DENIED
Next Article:CANANDAIGUA WINE COMPANY ANNOUNCES AGREEMENT IN PRINCIPLE TO ACQUIRE ASSETS OF VINTNERS INTERNATIONAL
Topics:


Related Articles
PENNSYLVANIA BLUE SHIELD'S NEW VISION PROGRAM PROVIDES PAID-IN-FULL BENEFITS FOR EYE CARE
PENNSYLVANIA BLUE SHIELD: MOVE TO PAPERLESS HEALTH CARE CLAIMS IS EVIDENT
PENNSYLVANIA STATE INSURANCE DEPARTMENT ACTS AGAINST METLIFE AGENTS
Standard & Poor's Rates Pennsylvania National Mutual Casualty 'BBBpi'.
S&P Rates Philadelphia Contributionship Ins 'BBBpi'.
Pennsylvania Insurance Department Releases Enforcement Actions.
S&P Affirms Penn National Security Insurance 'BBBpi' Rating.
S&P Affirms Pennsylvania National Mutual 'BBBpi' Rating.
PA Insurance Department Takes Action Against Unlicensed Insurer.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters