South Carolina-domiciled captive insurer, First Keystone RRG, has been placed into liquidation by the state’s circuit court. The order was signed by Judge Casey Manning on 21 October 2014.
The petitioner, Raymond Farmer, as director of the South Carolina Department of Insurance, and his successors in office were appointed liquidator, while Michael FitzGibbons, of FitzGibbons and Company, was designated special deputy liquidator.
All those with claims against First Keystone have been urged to file a verified original Proof of Claim, of which the deadline for submission is 28 February 2015.
By issue of the liquidation order, and pursuant to South Carolina Code of Laws, all First Keystone insurance policies will cancel no later than 20 November 2014.
Also due to the order, First Keystone will no longer defend or pay for the defence of its insureds.
