Tuesday, November 22, 2022

Commissioner Causey issues statement on liquidation of Lindberg’s insurance companies

Nov 22, 2022

North Carolina Insurance Commissioner Mike Causey issued the following statement on Monday’s decision by the Wake County Superior Court:

“I am pleased to announce that today the Wake County Superior Court granted the Department of Insurance’s petition to place Colorado Bankers Life Insurance Company and Bankers Life Insurance Company into liquidation. This is an important step that will allow more policyholders to get more of their money back, sooner.

“The Department of Insurance stands ready to work with the state guaranty associations to get payments up to the guaranty limits out to policyholders as quickly as possible. In the meantime, last week I directed two additional motions to be filed with the court to allow more money to be released from the insurance companies directly to policyholders while the state guaranty associations prepare to disburse their payments. 

“We will continue to work as hard as we can to get money out to innocent policyholders, and we will keep fighting to get every policyholder paid in full. Policyholders with questions should feel free to contact customer service for CBL and BLIC; contact information is available on their websites.”

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