The Pennsylvania Commonwealth Court has approved the liquidation of Bedivere Insurance Company, formerly One Beacon Insurance Company, recognizing that the companys financial liabilities have exceeded its assets.
Bedivere, a domestic stock property/casualty company based in Pennsylvania, has consented to the liquidation process, in which policyholder claims will be paid through the state guaranty association system, subject to statutory limits and conditions.
Pennsylvania Insurance Commissioner Jessica Altman said in a Pennsylvania Insurance Department (PID) press release that the company wrote policies in all 50 states plus the District of Columbia, Puerto Rico, the U.S. Virgin Islands, American Samoa and Gua…
Read the full article at: https://www.insurancejournal.com/news/east/2021/03/22/606408.htm