Illinois Insurance Director Nat Shapo announced today that the Cook County Circuit Court issued an Order of Liquidation with A Finding of Insolvency against Oak Casualty Insurance Company (Oak) on November 19, 2002, following a determination by the Department of Insurance that the company was insolvent by more than $2.5 million.
Oak began business in June 1988 as a Florida domiciled insurance company. In 1997, Oak re-domesticated to Illinois and merged with Industrial Casualty Insurance Company, with Oak continuing as the surviving entity. Oak is a wholly owned subsidiary of Preferred Casualt...
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