I’ve followed National States in my blog a couple of times, so those that follow the blog knew that NS was in a bit of financial distress over a year ago. I blogged here about their most recent AM Best downgrade and here about their downgrade before that. Generally, I think that loss ratio problems on Home Health Care business in South Florida is pretty toxic to a small company. The company had some very aggressively priced Med Supp rates in a number of states, as well.
Pursuant to the Rehabilitation order (click to view entire document):
- Agents are not to produce new business for National States
- Agents must contact persons where applications are in process (initiated prior to 4/1, but not issued) and inform them about the rehabilitation and suggest they go to the company’s website or to the MO DOI website.
- After confirming that applicants wish to continue with the application process, Agents must provide all info to complete policy issuance no later than 4/15/2010.
