OTHER NEWS - July 3, 1991
Great Republic Insurance Seized by Regulators: California insurance regulators seized Great Republic Insurance Co. after finding it was in hazardous financial condition. The company, which insures about 32,000 consumers through group and individual policies, has a negative capital and surplus of $450,000, the Department of Insurance said. Health insurance policyholders will continue to receive full payments and benefits, and regulators will allow the company to pay 100% on death benefits. However, regulators have placed a moratorium on policy loans and surrenders.
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