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Kingsway Financial Services Inc. Message Board

  • johndoelcc johndoelcc Apr 1, 2010 2:04 PM Flag

    let the news sink in eventually. ALL CLAIMS DISMISSED

    enough said...do yourself a favor and read the entire news that is out.

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    • But it appears Kingsway will remain financially responsible for the Lincoln claims so I'm not really sure of the benefit to Kingsway. Anyone care to opine?

      "Kingsway has met and will continue to meet all of its regulatory and contractual obligations in respect of Lincoln."



      Court Rejects All Arguments By Department of Insurance Challenging Lincoln Disposition
      TORONTO, April 1, 2010 – Kingsway Financial Services Inc. (“Kingsway”) announces today that the Commonwealth Court of Pennsylvania has dismissed all the claims against Kingsway and Kingsway America Inc. in the legal action by the Pennsylvania Department of Insurance (“DOI”) challenging the disposition of Lincoln General Insurance Company (“Lincoln”). The Court sustained Kingsway’s objections to the action and rejected the arguments made by the DOI in its pleadings filed on November 20, 2009. The Court confirmed that the disposition of Lincoln did not violate Pennsylvania insurance laws and did not require DOI approval.

      Kingsway has met and will continue to meet all of its regulatory and contractual obligations in respect of Lincoln.

 
KFS
6.25+0.08(+1.24%)Jul 22 4:02 PMEDT

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