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IN RE: AMERICAN SAFETY CASUALTY
INSURANCE COMPANY

DOCKET NO. INS-99-8

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ORDER RELEASING
CONDITIONS OF LICENSURE

 

By a Consent Agreement executed on September 22, 1999 between American Safety Casualty Insurance Company (“the Company”) and the Superintendent of Insurance, the Company agreed to limit Maine written premium in each of the succeeding three years to an agreed amount, to post a security deposit of $200,000 with the Maine State Treasurer for the benefit of Maine policyholders, and to provide the 1998 Examination Report by June 30, 2000 in order to receive its Certificate of Authority. These conditions were required because the Company did not meet the seasoning requirements of the Bureau of Insurance Rule Chapter 230.

The Company has demonstrated that the circumstances giving rise to the Consent Agreement no longer apply, and the special deposit and conditions of licensure are no longer necessary. Therefore, for good cause shown, the Consent Agreement is hereby VACATED. The Company’s Certificate of Authority is hereby amended to remove the conditions, and the security deposit may be released.

 

PER ORDER OF

 

NOVEMBER 30, 2007 _____________________________
ERIC A. CIOPPA
ACTING SUPERINTENDENT OF INSURANCE

 


 

 

Last Updated: January 22, 2014