Rehabilitations and Liquidations

Rehabilitations and Liquidations

The Insurers Rehabilitation and Liquidation Act (“Act”) provides for the protection of the interests of insureds, claimants, creditors and the general public. The Commissioner of Insurance is tasked with the authority to file in the chancery court a petition alleging, with respect to a domestic insurer, that there exists any grounds that would justify a court order for a formal delinquency proceeding against an insurer under the Act. Delinquency proceedings against foreign insurers (insurers incorporated in another state) are typically initiated in the insurer’s state of domicile. For more information concerning the process and the Commissioner’s role in Rehabilitation’s and Liquidation’s, please refer to Miss. Code Ann. § 83-24-1 et. seq.

The National Association of Insurance Commissioners maintains the Global Receivership Information Database (GRID). This website includes additional information regarding companies in rehabilitation and liquidation and historical data regarding closed rehabilitations and liquidations. If you click on GRID you will be taken directly to the GRID terms of use page.

Listed below are companies that are currently in rehabilitation or liquidation.

Franklin American Companies: