Vermont Distributes Final $105 Million in Ambassador Case

Vermont regulators announced Tuesday they have begun sending out the final $105 million in claims payments to former policyholders of failed carrier Ambassador Insurance Co. – ending an insolvency battle more than two decades old.The Vermont Department of Business, Insurance, Securities and Health Care Administration (BISHCA) said the checks began going out last week primarily to out-of-state policyholders.Commissioner Paulette J. Thabault said most Vermont policyholders were reimbursed years ago through the Vermont Insurance Guaranty Fund.The agency seized control of Ambassador in 1983....