Lens1000
VIP Contributor
Inappropriate Thread Topic
The state insurance commission assure your claim if the insurance company go bankrupt.
It should be a thing of concern when you want to buy insurance policy that you should think of what happens if the insurance company go bankrupt. . The insured should be worried on whatever happens to his/her claim
If the insurance company faces financial instability.
If such a thing occurred , the insurance company will go through a recovery phase by the state insurance commission. This apex insurance body will make move to rehabilitate the embattled insurance company but if the rehabilitation didn't work out, the court will declare the company insolvent or bankrupt.
The state insurance commission takes over the business and the insured benefit is guaranteed. This short thread tells you not to worry if the insurance company go bankrupt. The state insurance commission got you covered.
It should be a thing of concern when you want to buy insurance policy that you should think of what happens if the insurance company go bankrupt. . The insured should be worried on whatever happens to his/her claim
If the insurance company faces financial instability.
If such a thing occurred , the insurance company will go through a recovery phase by the state insurance commission. This apex insurance body will make move to rehabilitate the embattled insurance company but if the rehabilitation didn't work out, the court will declare the company insolvent or bankrupt.
The state insurance commission takes over the business and the insured benefit is guaranteed. This short thread tells you not to worry if the insurance company go bankrupt. The state insurance commission got you covered.
Last edited by a moderator: