The state took control of Great Global Assurance.
The Department of Insurance requested and received an order of conservation against the Scottsdale, Ariz.-based insurer, saying the firm has net worth deficiency of nearly $20 million. Most of the company’s business was in substandard auto coverage in California, the department said. The number of policyholders has not been determined. The Insurance Department advised policyholders to contact their agent or company representative. Should Great Global ultimately be liquidated, the California Insurance Guarantee Assn. would pay all claims.
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