An Ohio court has ordered Proliance Insurance Co. be placed into rehabilitation based on a request by the Ohio Department of Insurance Director Lee Covington. Proliance is a Columbus, Ohio, domiciled property and casualty insurer.
In rehabilitation, Proliance Insurance Company will be operated by the Ohio Department of Insurance. The day-to-day operations of Proliance remain unchanged at the present time. The Department of Insurance and the staff of Proliance have been working and will continue to negotiate a sale of the Proliance’s book of business or to re-capitalize the company.
Proliance Insurance Co. conducts business primarily in Ohio writing an estimated $3 million in premiums per year. Proliance primarily writes preferred risk homeowners and automobile insurance. Proliance was placed into rehabilitation because they were found to be insolvent with a surplus falling below the required statutory minimum.
Topics Ohio
Was this article valuable?
Here are more articles you may enjoy.
Impeachment Sought on Federal Judge Over Sex in Chambers, Lying to Investigators 
Karen Read Sues Police Agencies That Investigated Her Boyfriend’s Death 
Georgia Brokers and Agents Alarmed After Court Ruling Expands Liability for Them 
Claimants of 23andMe Data Breach to Get $46.75M in Settlement Deal 
