At the request of the Texas Commissioner of Insurance, the State of Texas filed an Application for Order Appointing Rehabilitator and Request for Injunctive Relief which was heard by the Court on February 11, 2019. The Application requests an order placing Capson Physicians Insurance Company into rehabilitation pursuant to TEX.INS.CODE Chapter §443.008, restraining Capson and its agents from conducting its business, and restraining other parties from taking any actions against Capson or its property in violation of the Insurer Receivership Act. Upon hearing both sides, the Court found that the Application should be Granted and entered this order.
If you currently have a Capson Physician Insurance Company Policy or a Granite State Insurance Company Policy through Capson and are seeking alternative coverage, Diederich Healthcare* can help. There may be options available, and if you are interested, Diederich Healthcare will facilitate moving your coverage to another company cost-effectively. Although Capson is an admitted insurance company in the State of Texas, the protection offered by the Texas Insurance Guarantor Fund has limited limits, currently $300,000 or the limits of the insurance policy, whichever is less, and does not pay punitive damages. This may not provide all of the protection you need.
Diederich Healthcare can help. If you would like to begin this process, contact Diederich Healthcare as follows: Jeffrey M. Diederich, Chairman & CEO at jdiederich@diederichgroup.com or call 800-457-7790.
*a division of Diederich Insurance Agency, LLC
