What happened to Casualty Reciprocal Exchange (CRE) & Equity Mutual Insurance Company (EMIC)?
Casualty Reciprocal Exchange and Equity Mutual Insurance Company (the Companies”) were placed into Liquidation on August 18, 2004 because the insurance companies were insolvent (liabilities in excess of assets). The Cole County Circuit Court (the Court) appointed Scott B. Lakin, Director of the Missouri Insurance Department, as Liquidator of the Companies. F. William (Bill) Kobusch, IV was appointed Special Deputy Liquidator (SDL) of the Companies by the Missouri Department of Insurance and approved by the Court. The following information will help answer most of your questions about potential claims and the liquidation procedure. The answers below are generally how liquidations are handled, but results may differ based upon individual state laws and guaranty fund procedures and future Orders issued by the supervisory Court.
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