Organization | • | Illinois Department of Insurance | [X] |
| | 1: | | Title: | | | | | Volume/Number: | 2012 December 11 | | | | Issuing Agency: | | | | | Description: | Illinois Department of Insurance (DOI) Director Andrew Boron today announced an Agreed Order of Rehabilitation has been entered against Triad Guaranty Insurance Corporation (Triad) and its subsidiary Triad Guaranty Assurance Corporation (TGAC) with the consent of their respective Boards of Directors by the Circuit Court of Cook County, Illinois. The court also entered a finding of insolvency against Triad. Both companies, located at 101 South Stratford Road, Winston-Salem, North Carolina, were formerly authorized to transact the business of mortgage guaranty insurance, which insures banking institutions for financial loss associated with residential mortgage defaults. The Companies ceased issuing new commitments for mortgage guaranty insurance in 2008, and have been operating their business under two Corrective Orders issued by DOI. | | | | Date Created: | 12 11 2012 | | | | Agency ID: | 1356**12 | | | | ISL ID: | 000000046124 Original UID: 25674 FIRST WORD: Triad | |
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