Mission Insurance's bail-out plan was approved.

In approving the tentative plan, Los Angeles Superior Court Judge Warren Deering authorized Mission Insurance and the state Department of Insurance to continue working on a definitive agreement. The tentative rehabilitation agreement calls for Mission American Insurance to assume most of the financial obligations of Mission Insurance and its subsidiaries. The Los Angeles company was declared insolvent and placed under state conservatorship late last year.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World