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.

Correspondence should be addressed to the appropriate Company at the following:

Colorado Bankers Life Insurance Company
P.O. Box 11609
Winston-Salem, NC 27116

Bankers Life Insurance Company
P.O. Box 11948
Winston-Salem NC 27116

Southland National Insurance Corporation
P.O. Box 168
New Palestine IN 46163

Hardships forms may be emailed to the appropriate Company as follows:

For Colorado Bankers Life policies: cbl@actmanre.com
For Bankers Life policies: blic@actmanre.com
For Southland National policies: NCRehab@noblecon.net

Policyholder specific questions contact the appropriate Company at:

For Colorado Bankers Life policies: 1-833-658-2841
For Bankers Life policies: 1-833-658-2840
For Southland National policies: 1-833-842-8960

You may sign up for email notifications from the appropriate Company as follows:

For Colorado Bankers Life
For Bankers Life
For Southland National

The following documents relate to the Companies in Rehabilitation:

MOU Case – 19 CVS 013093 – Judgment and Order – 5.18.2022
MOU Case – 19 CVS 013093 – Frequently Asked Questions
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
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
Cannon Third Order Amending Order of Rehabilitation
Rehabilitator's 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:

Audited Statement of Recorded Cash Receipts and Disbursements (PDF)
Notice of Liquidation (PDF)
Frequently Asked Questions about the liquidation (PDF)
Proof of Claim Form (PDF)
Liquidation Order (PDF)
Domiciliary Liquidator's Quarterly Report (PDF)
Consent Order of Rehabilitation (PDF)

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)
Order Regarding Delayed Filing of Court Report (PDF)
Rehabilitator's Quarterly Reports
Rehabilitator's Monthly Reports

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.