Rehabilitator Asks Court To Place Insolvent Insurer Into Liquidation
(February 16, 2016, 7:28 AM EST) -- MASON, Mich. — The rehabilitator of an insolvent insurer told a Michigan court on Feb. 3 that further efforts to rehabilitate the insurer would be futile and the insurer should be placed into liquidation (Patrick McPharlin, Director of the Department of Insurance and Financial Services v. Consumers Mutual Insurance of Michigan, No. 15-948-CR, Mich. Cir., Ingham Co.).
(Petition available. Document #10-160226-021X.)
Based on a petition by Patrick M. McPharlin, director of Michigan’s Department of Insurance and Financial Services, Judge James S. Jamo of the Ingham County,...