Lumbermens' Rehabilitation: Consequences For Policyholders
July 23, 2012, 1:25 PM EDT
Law360, New York (July 23, 2012, 1:25 PM EDT) -- Lumbermens Mutual Casualty Co. and American Manufacturers Mutual Insurance Co. (part of the Lumbermens Mutual Group and formerly known as Kemper) (Lumbermens), after years of struggling financially under the supervision of the Illinois Department of Insurance, recently entered rehabilitation proceedings. Policyholders who purchased workers’ compensation and other types of insurance from Lumbermens should be aware that many opportunities for recovery remain.
The Chancery Division of the Circuit Court of Cook County, Ill., entered an agreed order of rehabilitation, establishing separate estates for each of the companies....
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