|
|
|
« Back to FAQ |
Next Question » |
Question 6 of 7 in Insurance Company |
What happens when a company becomes insolvent and is liquidated? |
 |
Other companies that do business in that state will usually rescue the failed company with the advice and cooperation of the state insurance department. If the failed company is small, a larger company will often be designated to take it over. If a large company should fail, various healthy companies and perhaps several state insurance departments may become involved in devising a plan for the rescue. The goal is always to protect the policyholders and make certain that insurance customers can have faith that their policies will be honored. |
|
|
|
|
|
Disability Insurance Center
Auto | Homeowners/Renters | Health | Life | Site Map | Privacy Policy | Media | About Us | Contact Us