On August 12, 2010, Pegasus Insurance Company, Inc. became the subject of an Order of Liquidation with a Finding of Insolvency (“the Order”) filed in the District Court of Oklahoma County, Oklahoma. The Order gives the Oklahoma Insurance Commissioner, Kim Holland, as Liquidator, full power, possession and control over the assets, business and affairs of Pegasus Insurance Company, Inc. (Pegasus), including all of the property, contracts, rights of action and books and records.
Pursuant to Oklahoma law, the Pegasus insurance policies will be cancelled effective no later than September 12, 2010 at 12:01 a.m.
For the protection of the policyholders, the Order activates the state guaranty associations in the states where Pegasus is licensed to do business.
Questions regarding this insolvency may be directed to the Oklahoma Receivership Office, Inc. at (405) 947-0022.