Florida Judge Orders Ancillary Receivership Of Insolvent Puerto Rican Insurer
Mealey's (July 30, 2015, 7:44 AM EDT) -- TALLAHASSEE, Fla. — A Florida judge on July 20 appointed the state’s Department of Financial Services as ancillary receiver of an insolvent Puerto Rican insurer with assets in the state (State of Florida, ex rel., the Florida Department of Financial Services v. National Insurance Company, No. 2015-CA-1625, Fla. Cir., 2nd Cir., Leon Co.).
(Order available. Document #10-150828-001R.)
National Insurance Co. (NIC) was placed into rehabilitation by the commissioner of Insurance of Puerto Rico on May 17, 2011. NIC was ordered into liquidation on Oct. 25, 2011,...