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                    [ArticleID] => 182724
                    [Title] => IC orders liquidation of 7 insurers; 3 more lined up
                    [Summary] => Seven non-life insurance companies has been ordered for liquidation while three more have been placed under receivership by the Insurance Commission (IC) for capital inadequacy and margin of solvency deficiency.


All nine firms were issued a cease and desist order (CDO) barring them from continuing business such as issuance of bonds, sale of non-life insurance products like fire insurance, motor or vehicle insurance.


                    [DatePublished] => 2002-11-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

        )

)

CITADEL INSURANCE CORP

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                    [ArticleID] => 182724
                    [Title] => IC orders liquidation of 7 insurers; 3 more lined up
                    [Summary] => Seven non-life insurance companies has been ordered for liquidation while three more have been placed under receivership by the Insurance Commission (IC) for capital inadequacy and margin of solvency deficiency.


All nine firms were issued a cease and desist order (CDO) barring them from continuing business such as issuance of bonds, sale of non-life insurance products like fire insurance, motor or vehicle insurance.


                    [DatePublished] => 2002-11-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

        )

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IC orders liquidation of 7 insurers; 3 more lined up

By Ted P. Torres | November 5, 2002 - 12:00am

Seven non-life insurance companies has been ordered for liquidation while three more have been placed under receivership by the Insurance Commission (IC) for capital inadequacy and margin of solvency deficiency. All...

Banking