Judge Agrees: Insolvent Insurer Should Not Make An Early Access Distribution
(February 22, 2016, 7:24 AM EST) -- AUSTIN, Texas — A Texas judge on Jan. 26 approved the report of a special deputy receiver (SDR) of an insolvent insurer that there are insufficient funds to make an early access distribution to states’ insurance guaranty associations this year (The State of Texas and the Texas Department of Insurance v. Vesta Fire Insurance Corporation, et al., No. D-1-GN-002366, Texas Dist., Travis Co.).
(Order available. Document #10-160226-025R.)
The Travis County, Texas, District Court ordered Vesta Fire Insurance Corp., Vesta Insurance Corp., Shelby Casualty Insurance Co., The...