Six reinsurance companies with unpaid claims owed...
Six reinsurance companies with unpaid claims owed to defunct Mission Insurance Co. were ordered to pay $20.2 million into an escrow account pending completion of arbitration, according to California Insurance Commissioner Roxani Gillespie, who is liquidating the Los Angeles-based insurer. In related litigation, Gillespie sued 144 insurers seeking $700 million in reinsurance claims allegedly owed to Mission, and last month she added another 130 defendants to the suit. Liquidation of Mission and four subsidiaries began in February, 1987.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
