A bankruptcy hearing has been scheduled for a Grand Island insurance agency under investigation by the state.
First Americans Insurance Service filed for Chapter 11 bankruptcy protection on Jan. 12, claiming between $100 million and $500 million in liabilities. The filing lists more than 200 creditors, with the top 20 including mostly individuals and couples from Nebraska.
A hearing is schedule for Feb. 20.
Last week, Attorney General Jon Bruning authorized a Nebraska State Patrol investigation into First Americans and its three principals. The patrol is working with the departments of insurance and banking to piece together how more than $100 million disappeared.
___
On the Net:
First Americans Insurance Service, http://www.fais.com
Was this article valuable?
Here are more articles you may enjoy.
NAIC Victim of Cyber Incident Via PeopleSoft System 
Need Wind Mitigation? New Florida Insurer Wants to Help With That 
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
Ship Insurers Set for Major Claims From Iran War, Allianz Says 
