Skip Maine state header navigation
 |
| Home | Contact Us | Careers | Calendar |
|
November 14, 2001 Mr. Michael James FitzGibbons Re: Far West Insurance Company Dear Mr. FitzGibbons: Pursuant to Title 24-A M.R.S.A. § 416(1)(B), the certificate of authority for Far West Insurance Company is suspended indefinitely, effective immediately. Far West’s surplus is found to be inadequate as of September 30, 2001, and the Company has been declared insolvent by an Order of Liquidation, Declaration of Insolvency, and Injunction dated November 9, 2001. Far West no longer meets the requirements for a certificate of authority in Maine on account of deficiency of surplus. Far West is required to continue to service existing business, but may not engage in soliciting new business or renewing existing business. Pursuant to 24-A M.R.S.A. § 416(2), Far West may request a hearing within 20 days of receipt of this Order. Pursuant to 24-A M.R.S.A. §§ 229 and 419(1), Far West Insurance Company may at any time file with the Superintendent a request to lift the suspension upon a showing that valid grounds for suspension no longer exist, and may petition for an adjudicatory hearing if the request to lift the suspension is denied. Please contact Enya Carter at (207) 624-8496 or by e-mail at enya.h.carter@state.me.us if you should have any questions or if you would like a hearing scheduled. Per Order of
___________________________
Last Updated: August 22, 2012 |
| Copyright © 2006 All rights reserved. |