The Kentucky Department of Insurance has obtained a temporary restraining order against several entities that the agency alleges have been marketing professional liability coverage to Kentucky physicians and medical facilities without proper authorization, Insurance Commissioner Janie Miller announced.
Judge William Graham of the Franklin Circuit Court issued the restraining order on June 25 against Security Trust Insurance Company, Ltd., and Ameristar, Ltd.
Security Trust and Ameristar are both located in Christiansted, St. Croix, Virgin Islands. According to court documents, Ameristar purports to be a subsidiary of Security Trust.
At least three physicians and one group of clinics in Kentucky have reportedly been sold professional liability coverage by these entities.
Neither company reportedly has the necessary authorization to conduct insurance business in the Commonwealth, according to the Department.
Was this article valuable?
Here are more articles you may enjoy.
Spain’s Devastating Floods Will Cost Insurers Over $3.8 Billion 
Chipotle Shareholders Sue Over Fallout From Skimping on Portion Sizes 
Home Depot Raises Outlook on Hurricane-Fueled Demand 
Fake Bear Attacks on Car for Fraudulent Insurance Claims Lead to Arrests 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.