On its website, Lumbermen’s Underwriting Alliance — a Boca Raton, Florida-based workers' compensation insurer — trumpets its longevity with palpable pride: “Insuring the Future Since 1905.” But with a recent move by regulators at its Missouri domicile placing it under receivership, its own future is now uncertain.
The Missouri Insurance Department secured permission for a rehabilitation order by a circuit court, effectively giving regulators the authority to try to turn it around or pursue its liquidation. The move comes amid mounting losses for the insurer &...
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