Receivership activity in the U.S. insurance industry decreased sharply year over year in 2020, but insurers were still adversely affected by a struggling economy brought on by the COVID-19 pandemic.
Regulators placed eight underwriters into liquidation and four into rehabilitation last year, according to an S&P Global Market Intelligence analysis. That compared with 22 companies put into liquidation or rehabilitation in 2019.
Net total assets of companies under receivership in 2020 totaled $2.42 billion, a dramatic decrease from $7.85 billion in 2019.
Midwestern Dental Plans Inc. of Dearborn, Mich., was one company on the list directly affected by the pandemic. The company was a network of dental providers comprised of seven offices be…
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