Group Challenges Okla.'s Stance On Collateral Insurance

Law360, New York (September 18, 2012, 8:38 PM EDT) -- A risk purchasing group launched a suit against Oklahoma's insurance regulator Monday, seeking a ruling that collateral protection insurance is a form of liability coverage that can be written by risk retention groups and purchased by risk purchasing groups like itself.

Creditors Insurance Purchasing Group — an Oklahoma-based federal risk purchasing group charged with buying liability insurance for used automobile dealers — told an Oklahoma federal court that a state insurance regulator improperly blocked it from continuing to buy collateral protection insurance from Vehicular Services Insurance...
To view the full article, register now.




Case Information

Case Title

Creditors Insurance Purchasing Group v. Oklahoma Insurance Department et al

Case Number



Oklahoma Western

Nature of Suit

Other Statutory Actions


Stephen P. Friot

Date Filed

September 18, 2012

Law Firms


Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.