Regulatory Actions (Receiverships)
The Regulatory Actions Section is responsible for the administration of all insurance entities placed into rehabilitation or liquidation in North Carolina as well as closely monitoring troubled insurance entities, including those placed into administrative supervision.
Estates Under Administration (Receiverships)
Southland National Insurance Corporation in Rehabilitation, Colorado Bankers Life Insurance Company in Rehabilitation, Bankers Life Insurance Company in Rehabilitation, Southland National Reinsurance Corporation in Rehabilitation
On June 27, 2019, Southland National Insurance Corporation, Colorado Bankers Life Insurance Company, Bankers Life Insurance Company and Southland National Reinsurance Corporation (hereinafter “Companies”) were placed in rehabilitation by order of the Superior Court of Wake County, North Carolina, with the consent of the Board of Directors and the Controlling Shareholder. The Order of Rehabilitation enjoins all persons from instituting or continuing any action at law or in equity or any attachment or execution against the Companies.
All correspondence should be addressed to this address only, to avoid delay in processing:
CBLife Rehabilitation
PO Box 110604
Durham, NC 27709-0962
Phone: 317-683-1295
Email: hardships@globalbankers.com
Policyholder specific questions contact the appropriate Company at:
- For Colorado Bankers Life policies: 1-800-367-7814
- For Bankers Life policies: 1-800-839-2731
- For Southland National policies: 1-833-452-4240
Information is currently being developed to inform you of the status of the Rehabilitator’s efforts concerning the Companies. Please be patient and check back frequently as further information is added.
The following documents relate to the Companies in Rehabilitation:
- Consent Order of Rehabilitation
- Order Approving Moratorium on Policy Surrenders
- Order Granting Motion to Seal for a Limited Time
- Order Modifying Moratorium Order
- GBIG Hardship Application Checklist
- GBIG Request for Hardship
- Letter to Policyholders
- Frequently Asked Questions
- Rehabilitator's Quarterly Reports
- SNIC Rehabilitator's Quarterly Report as of September 30 2020
- SNIC Rehabilitator's Quarterly Report as of June 30 2020
- SNIC Rehabilitator's Quarterly Report as of March 31 2020
- SNIC Rehabilitator's Quarterly Report as of December 31 2019
- SNIC Rehabilitator's Quarterly Report as of September 30 2019
- SNIC Rehabilitator's Quarterly Report as of June 30 2019
- Producer FAQ 082619
Cannon Surety, LLC in Rehabilitation
An Order of Rehabilitation was issued to Cannon Surety, LLC effective December 15, 2017. The Order of Rehabilitation enjoins all persons from instituting or continuing any action at law or in equity or any attachment or execution against Cannon Surety, LLC.
Questions specifically regarding judicial appearance bonds or surety bondsmen should contact the Bail Bond Regulatory Division at (919) 807-6850 or via email at BBRDinbox@ncdoi.gov. For all other matters, contact the Financial Analysis and Receivership Division at (919) 807-6140 and ask to be connected to an employee working on Cannon Surety, LLC in Rehabilitation.
All correspondence should be addressed to:
Cannon Surety, LLC, in Rehabilitation
North Carolina Department of Insurance
Financial Analysis and Receivership Division-FARD
1203 Mail Service Center
Raleigh, NC 27699-1203
The following documents relate to Cannon Surety, LLC. In Rehabilitation:
- Cannon Order of Rehabilitation
- Cannon Order Amending Order of Rehabilitation
- Cannon Second Order Amending Order of Rehabilitation
- Rehabilitator's Quarterly Reports
CAGC Insurance Company, in Liquidation
The Superior Court of Wake County, North Carolina ordered CAGC Insurance Company (CIC) into liquidation on January 17, 2014. The Order of Liquidation enjoins all persons from instituting or continuing any action at law or in equity or any attachment or execution against CIC.
All correspondence should be addressed to:
CAGC Insurance Company, in Liquidation
430 N. Salisbury Street
Raleigh, North Carolina 27603-5923
The telephone number is (919) 807-6150. Please ask to be connected to an employee working on the CAGC Insurance Company liquidation.
The following documents relate to the CAGC Insurance Company, in Liquidation:
North Carolina Mutual Life Insurance Company in Rehabilitation
On December 3, 2018, North Carolina Mutual Life Insurance Company ("NC Mutual" or "Company"), was placed in rehabilitation by order of the Superior Court of Wake County, North Carolina, with the consent of the Board of Directors of NC Mutual. Initially the Rehabilitation Order was confidential and sealed by order of the Court. On February 1, 2019, an order was entered by the Superior Court of Wake County to unseal the court file. The Order of Rehabilitation enjoins all persons from instituting or continuing any action at law or in equity or any attachment or execution against NC Mutual.
North Carolina Insurance Commissioner Mike Causey serves as Rehabilitator. The Rehabilitator and his staff believe that it is reasonable to work towards the development of a Plan of Rehabilitation for NC Mutual with the goal of returning NC Mutual to a condition where all contractual claims of policyholders can be honored.
Information is currently being developed to inform you of the status of the Rehabilitator's efforts concerning NC Mutual. Please be patient and check back frequently as further information is added.
All correspondence should be addressed to:
North Carolina Mutual Life Insurance Company in Rehabilitation
North Carolina Department of Insurance
Financial Analysis and Receivership Division- FARD
1203 Mail Service Center
Raleigh, North Carolina 27699-1203
Or email at: NCMutual@ncdoi.gov.
The following documents relate to North Carolina Mutual Life Insurance Company in Rehabilitation:
- Consent Order of Rehabilitation (PDF)
- Order for Confidentiality and Sealing Court File (PDF)
- Order Rescinding Confidentiality (PDF)
- Order Amending Order of Rehabilitation (PDF)
- Order Approving Moratorium on Policy Surrenders (PDF)
- NC Mutual Request for Hardship (PDF)
- Policyholder Communications Letter (PDF)
- Frequently Asked Questions (PDF)
- Rehabilitator's Quarterly Reports
- Rehabilitator's Monthly Reports
- Rehabilitator's Monthly Report filed 1-2-19 (PDF)
- Rehabilitator's Monthly Report filed 2-1-19 (PDF)
- Rehabilitator's Monthly Report filed 3-4-19 (PDF)
- Rehabilitator's Monthly Report filed 3-29-19 (PDF)
- Rehabilitator's Monthly Report filed 5-2-19 (PDF)
- Rehabilitator's Monthly Report filed 6-6-19 (PDF)
- Rehabilitator's Monthly Report filed 7-1-19 (PDF)
- Rehabilitator's Monthly Report filed 8-5-19 (PDF)
- Rehabilitator's Monthly Report filed 9-18-19 (PDF)
- Rehabilitator's Monthly Report filed 10-4-19 (PDF)
- Rehabilitator's Monthly Report filed 11-20-19 (PDF)
- Rehabilitator's Monthly Report filed 1-15-20 (PDF)
Additional Information
Additional information is available regarding North Carolina domestic receiverships and receiverships in other states on the NAIC Global Receivership Information Database (GRID) website. GRID is a voluntary database provided by the state insurance departments to report information on insurer receiverships for consumers, claimants, and guaranty funds.
Related Links
- NAIC - National Association of Insurance Commissioners
- NOLHGA - National Organization of Life & Health Insurance Guaranty Associations
- NCIGF - National Conference of Insurance Guaranty Funds
- NCIGA - North Carolina Insurance Guaranty Association
- NCLHIGA - North Carolina Life & Health Insurance Guaranty Association
- NCSISA - North Carolina Self-Insurance Security Association
Contact Information
Susan Coble
Chief Regulatory Specialist
919-807-6156
919-807-6635 (Fax)
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