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Topic: Crews & Hancock

Settlements to Result in Substantial Payments to Policyholders

 

Tennessee Department of Commerce and InsuranceAction Ends 8 Years of Insurance Litigation

Nashville, TN – The Tennessee Department of Commerce and Insurance’s (TDCI) Commissioner, acting as statutory receiver, has secured several multi-million-dollar settlements for policyholders in relation to receiverships the Department initiated for the public’s financial safety in 2003.

While the dollar amounts of the settlements are confidential, the receiver plans to file a proposal with the court to make an interim distribution to policyholders equal to 40 percent of approved claims in the near future. The interim distribution will be followed by an additional and substantial final distribution as claims become final. «Read the rest of this article»

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