Holland Alleges 'Systematic Looting' of Comp Carrier

By Michael Whiteley, Eastern Bureau ChiefOklahoma Insurance Commissioner Kim Holland alleged in a March 29 court filing that workers' compensation carrier Imperial Casualty and Indemnity Insurance Co. "was systematically looted" by its officers and directors in schemes that misled state regulators dating back to 2005.Holland, in her bid to shut down Imperial, filed a motion in state district court in Oklahoma County in response to efforts by Imperial attorneys to quash a temporary injunction ordered last month that bars principals in the company from having any further involvement with its...