Flash Report: Legion and Villanova to Be Liquidated

The Pennsylvania Department of Insurance today sought in court a liquidation order for Legion Insurance Co. and Villanova Insurance Co, according to Lawrence Mulryan, executive director of the California Insurance Guarantee Association.The move was largely expected, considering that the companies were put into conservation in March. The Pennsylvania DOIs action today would prompt guaranty funds in 50 states to start adjusting claims for the two conserved carriers on Sept. 3.Mulryan