Standard & Poor’s assigned its “R” financial strength rating to First Nevada Insurance Co. (FNIC). S&P took this rating action after learning that Judge Janet Berry of the Second Judicial District Court of the State of Nevada issued an order placing FNIC into liquidation, in response to a motion filed by Nevada Insurance Commissioner Alice A. Molasky-Arman as the court found FNIC to be statutorily insolvent and unable to be rehabilitated. FNIC, licensed only in Nevada, received its certificate of authority as a property/casualty insurer from the Nevada Division of Insurance in June 1995.
Was this article valuable?
Here are more articles you may enjoy.
Oil Trader CFOs Say Hormuz Closure Driving Wave of Disputes 
How Niche Insurance Shielded Bad Bunny From Bad Weather 
Palm Beach Billionaires Feud Over Who’s Really Protecting the Everglades 
‘The Arms Race Is On’: Chubb’s Greenberg on Mythos, Middle East From This Issue
