Pennsylvania Puts Reliance into Rehabilitation

Pennsylvania Insurance Commissioner M. Diane Koken this afternoon announced that the Commonwealth Court of Pennsylvania has just granted the Insurance Department's request to place financially troubled Reliance Insurance Company into rehabilitation, effective immediately. 'I took the step of asking the Commonwealth Court to put Reliance Insurance Company into rehabilitation in order to protect the policyholders, as the company has been unable to restore itself to sound financial condition,' Commissioner Koken said. 'The Commonwealth Court granted our Petition for Rehabilitation this afternoo...