When it is determined an insurance company isn't able to pay its claimants and creditors, a court can order the company into either a receivership for rehabilitation or liquidation. Photo: Shutterstock.com
An Oklahoma District Court approved an order of liquidation for Go Insurance Company, also known as Peachtree Insurance Company, on March 8, 2024, as a result of the company's financial insolvency. The Oklahoma Receivership Office reports that all policies with Go Insurance were terminated and all coverage canceled effective no later than April 8.
Go Insurance has been on the radar of state insurance regulators for a while. In August 2023, Texas Commissioner of Insurance Cassie Brown served an emergency cease and desist order on Peachtree Casualty Insurance Company, which also did business under the names Go Insurance Co. and Go Car Insurance, after receiving 50 complaints about their claims handling from repair facilities, claimants and attorneys.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
