Policyholders wait as Greg Lindberg insurers remain stuck in receivership
July 12, 2022 by John Hilton
Of the nearly 84,000 policyholders of the Southland National Insurance Corp., currently in receivership, all but two are expected to receive their full policy value thanks to the backstop provided by state guaranty associations.
Southland is one of four insurers owned by troubled billionaire Greg Lindberg. All are in a receivership supervised by the North Carolina Department of Insurance. Standard guaranty association coverages protect policyholders up to $300,000.
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Originally Posted at InsuranceNewsNet on July 7, 2022 by John Hilton.
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