State insurance regulators have seized control of Golden State Mutual Life Insurance Co., a financially struggling company that has primarily served the African American community for the last 84 years.
Golden State Mutual Life seized by California regulators
The insurer, whose customers are mainly African American, is losing $200,000 a month and about to run out of funds completely, officials say. The state hopes to find a new firm to take over policies.
State insurance regulators have seized control of Golden State Mutual Life Insurance Co., a financially struggling company that has primarily served the African American community for the last 84 years.
State insurance regulators have seized control of Golden State Mutual Life Insurance Co., a financially struggling company that has primarily served the African American community for the last 84 years.
