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Regulators Sign Deal with Fain in SEUS Liquidation

Monday, January 9, 2012 | 0

By Michael Whiteley, Eastern Bureau ChiefGeorgia insurance regulators have signed a mutual release with M. Clark Fain III, the founder and former chief executive officer of Southeastern U.S. Insurance Co., relieving Fain of all future civil and regulatory liabilities in connection with the collapse of the Atlanta-based workers' compensation carrier in October 2009.Don Roof, deputy liquidator and director of Regulatory Services for the Georgia Department of Insurance, confirmed in an interview late Friday that the release protects Fain from further civil action by regulators and guarantees ...

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