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The bill represents the 'most extreme measures' ever taken by the state to tackle the property insurance crisis, a former state senator said.

Insurance industry news from PCF Insurance, Ryan Specialty, Alera Group and more.

The company has around $6.5 million in cash on hand, which it reported will be enough to maintain day-to-day operations during the bankruptcy.

The insurance market has faced massive problems during the past two years, with insurers seeking large rate increases and dropping hundreds of thousands of customers because of financial losses.

Insurance technology news from Copart, Coterie Insurance, Mosaic Insurance and more.

On December 10, 2021, a tornado struck the plant, causing the building to collapse. Nine people were killed and several others were injured.