On August 18, 2009, The Physicians Assurance Corporation ("TPAC") was placed in liquidation by the Franklin County, Ohio, Court of Common Pleas. Mary Jo Hudson, Superintendent of Insurance, was appointed as Liquidator. The Liquidation Order was agreed and consented to by the Board of Directors of TPAC, and was prompted by the financially hazardous condition of TPAC.
Under the Liquidaton Order, the Liquidator will take control of TPAC's assets, property, and operations and will administer the company under the guidelines of the Ohio Revised Code, and under the supervision of the Liquidation Court.
For further details regarding TPAC's liquidation and the effect of the Liquidation Order, please refer to the web site of The Ohio Insurance Liquidation Office at www.ohliq.com
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