INSOLVENCIES

The failure of an insurance company is administered differently than other business bankruptcies. This is because insurance is regulated by the states and failures are not governed by federal bankruptcy law. When an insurance company becomes insolvent and is unable to pay outstanding claims, a state's courts and the insurance commissioner begin a legal process to determine appropriate action for the company.

When a member insurer is deemed to be insolvent, the Board of Directors of the NCIGA, under the Plan of Operation, may activate the NCIGA to carry out its duties and obligations as defined by statute to protect the insurance buying consumer of the state of NC.

NCIGA Insolvency List

NAIC # Company Name Date of Insolvency 
11398 Guarantee Insurance Company 11/27/2017
40134 CastlePoint National Ins. Co. 4/1/2017
23108 LUA  5/23/2016
42609 Affirmative Insurance Company 3/24/2016
32271 Freestone Insurance 8/15/2014
13162 CAGC 1/17/2014
43265 Gramercy 8/26/2013
37893 ULLICO 5/30/2013
22977 Lumbermens Mutual Gr 5/10/2013
34266 Fronteir Ins. Co. 11/16/2012
19895 Atlantic Mutual Ins. 4/27/2011
19909 Centennial Ins. Co. 4/27/2011
38474 Pegasus Insurance Co. 8/12/2010
11487 Imperial Cas & Indem 5/12/2010
18341 INSCORP 2/23/2010
28711 Park Avenue P & C 11/20/2009
15156 Shelby Insurance Co. 8/1/2006
15466 Realm National 6/15/2005
24953 South Carolina Ins. Co. 3/21/2005
21237 Casualty Reciprocal Exchange 8/18/2004
36374 Commercial Casualty  4/2/2004
21040 Fremont Insurance Co. 7/2/2003
33812 Reciprocal of America 6/20/2003
22527 Home Insurance Co. 6/13/2003
24422 Legion Insurance Co. 11/1/2002
19577 Villanova Insurance  11/1/2002
35718 Phico Insurance Co. 2/1/2002
24457 Reliance Insurance Co. 10/3/2001
12912 Credit General Ins. 1/5/2001
21369 Employers Cas Company 2/11/1994
19569 American Mut. Liab. 3/9/1989
19550 American Mut. Of Boston  3/9/1989
10529 Carriers Ins. Co. 1/16/1986
23604 Mission Ins. Co. 10/31/1985
14346 Iowa Natl. Mutual IN 10/10/1985
14230 Ideal Mutual Ins. Co. 12/26/1984