Looks like insurance companies are excepted from the Bankruptcy Code under 11 U.S.C. § 109(b). I don’t know anything about insurance codes, but state law controls. Probably go into receivership and if liquidated, a fixed payout from the state guaranty association for policy holders (similar to state version of FDIC for banks, depending on state).
KINK_KING t1_j9p5ags wrote
Reply to comment by cedped in Magnitude 7.2 earthquake strikes Tajikistan, near border with China by Papppi-56
Looks like insurance companies are excepted from the Bankruptcy Code under 11 U.S.C. § 109(b). I don’t know anything about insurance codes, but state law controls. Probably go into receivership and if liquidated, a fixed payout from the state guaranty association for policy holders (similar to state version of FDIC for banks, depending on state).