Frontier Pacific Insurance Company (FPIC), based in San Diego, was placed in conservation Friday after California Insurance Commissioner Harry W. Low received a conservation order from the Superior Court of San Diego.
The court found the company insolvent after an audit determined that FPIC was negative by more than $5 million. The financial study confirmed that FPIC is due significant amounts from its parent, New York-based Frontier Insurance Company, which was found insolvent earlier this year and is under rehabilitation by the New York Department of Insurance.
Domiciled in California, FP...
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