New York regulators said today they have filed suit against OneBeacon Insurance Company as part of a crackdown on longstanding "delinquent reinsurers" who owe millions to bankrupt insurers the state has taken over.
The action against Canton, Mass.-based OneBeacon seeking $2.2 million the state says is due Midland Insurance Company, was filed by the New York Liquidation Bureau in New York State Supreme Court, a county level tribunal in Manhattan.
Midland Insurance, a former New York company, was placed in liquidation in 1986. (The company is not related to The Midland Company, a Cincinnati-based specialty insurance group.)
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
