Skip to content
  • Home
  • World News
  • Business
  • Aviation
195 news

195News

All the news that's fit to print

  • Home
  • World News
  • Business
  • Aviation
  • Toggle search form
  • ZeroBounce Announces Relaunch of Its Platform With Faster, 99% Accurate Email Validation and Increased Security
    ZeroBounce Announces Relaunch of Its Platform With Faster, 99% Accurate Email Validation and Increased Security Business
  • Lincoln Savings Bank Adds Three New Talented Board Members
    Lincoln Savings Bank Adds Three New Talented Board Members Business
  • A Journey of Profound Faith
    A Journey of Profound Faith World News
  • War Day 94: war diaries w/ Advisor to Ukraine President, Intel Officer @Alexey Arestovych & #Фейгин
    War Day 94: war diaries w/ Advisor to Ukraine President, Intel Officer @Alexey Arestovych & #Фейгин World News
  • San Diego Non-Profit to Offer Child Care Benefits to Underrepresented, Low-Income Job Seekers
    San Diego Non-Profit to Offer Child Care Benefits to Underrepresented, Low-Income Job Seekers Business
  • FAA Refers More Unruly Passenger Cases to FBI
    FAA Refers More Unruly Passenger Cases to FBI Aviation
  • Kambria Dinero Unleashes New Single ‘Scoring like I’m KD’
    Kambria Dinero Unleashes New Single ‘Scoring like I’m KD’ World News
  • New regulated crypto exchange in Prague
    New regulated crypto exchange in Prague Business
Global Growth Comments on Liquidation of Greg Lindberg’s North Carolina Insurers

Global Growth Comments on Liquidation of Greg Lindberg’s North Carolina Insurers

Posted on November 22, 2022 By NewsEditor
Global Growth Comments on Liquidation of Greg Lindberg’s North Carolina Insurers'We deeply disagree with the NCDOI's decision to liquidate these companies — and we're surprised and disappointed that things got to this point,' said Global Growth CEO Justin Holbrook, 'They didn't have to.'

ORLANDO, Fla. - November 22, 2022 - (Newswire.com)

In response to the North Carolina court decision to liquidate Colorado Bankers Life Insurance and Bankers Life Insurance, two Global Growth-affiliated insurance companies, Global Growth CEO Justin Holbrook issued the following statement:

"We deeply disagree with the North Carolina Department of Insurance (NCDOI) decision to liquidate these companies — and we're surprised and disappointed that things got to this point. They didn't have to.

"First, we asked the judge for a continuance so that we could engage in discovery to understand the NCDOI's sudden determination that CBL and BLI should be liquidated now. As far as we know, nothing material has changed in terms of the insurance companies' liquidity or ability to meet their current policyholder obligation under the court's prior orders. NCDOI did not approach us before filing their liquidation motion nor explain their reasoning.

"Second, our goal remains helping policyholders get full access to their benefits as quickly as possible. Liquidation simply doesn't do that. Two years or more can pass under liquidation before most policyholders receive their benefits. By contrast, the sale of the NC insurance companies now would help policyholders start receiving their full benefits in a matter of months. The NCDOI has received two signed LOIs to buy our insurance companies, and all they have to do is accept one of them — which would help policyholders now. 

"Third, and most importantly, liquidation should always be a measure of last resort because it impacts state guaranty funds and threatens to leave some policyholders out in the cold. In this situation, liquidation doesn't need to happen at all, since there are other alternatives on the table. By NCDOI's own admission, there is substantial available liquidity in CBL and BLIC, and they are more than able to meet policyholder needs today. In fact, their cash position is so good that NCDOI just filed a request to relax the moratorium standards the court put in place in 2019 so more policyholders could get access to more of their benefits now. We support that decision and would even urge the NCDOI to do more. 

"The bottom line is going through the long process of liquidation makes no sense when the insurance companies can be sold today. Policyholders shouldn't have to wait any longer. Today's decision hurts — not helps — policyholders get full and quick access to their benefits.

"I've spent much of my professional life in public service and learned long ago that working together is always the best way. It saddens me that Commissioner Mike Causey still refuses to do that. In the end, the court's decision today means that policyholders are still the ones paying the price for Mr. Causey's actions."


Contact Information:
Sophie Turrell
[email protected]


Press Release Service by Newswire.com

Original Source: Global Growth Comments on Liquidation of Greg Lindberg's North Carolina Insurers Global Growth Comments on Liquidation of Greg Lindberg’s North Carolina Insurers
World News

Post navigation

Previous Post: Amid Food and Climate Crises, Investing in Sustainable Food Cold Chains Crucial: UN
Next Post: War Day 85: war diaries w/ Advisor to Ukraine President, Intel Officer @Alexey Arestovych & #Фейгин

Related Posts

  • USPA Pledges 50% of Black Friday Security Guard Service Profits to Rescue Missing Teen Girls
    USPA Pledges 50% of Black Friday Security Guard Service Profits to Rescue Missing Teen Girls World News
  • Day 140 – Latynina.tv – Alexey Arestovych
    Day 140 – Latynina.tv – Alexey Arestovych World News
  • Secretary Blinken’s Meeting with King Abdullah II of Jordan
    Secretary Blinken’s Meeting with King Abdullah II of Jordan World News
  • Chlorinated Paraffin Market Size Expected To Reach .47 Billion By 2027
    Chlorinated Paraffin Market Size Expected To Reach $2.47 Billion By 2027 World News
  • The National Black Church Initiative Salutes Lauri Carleton for Her Life for PRIDE
    The National Black Church Initiative Salutes Lauri Carleton for Her Life for PRIDE World News
  • Cenk Sidar Invited to Speak at Miami World Strategic Forum Organized by the International Economic Forum of the Americas
    Cenk Sidar Invited to Speak at Miami World Strategic Forum Organized by the International Economic Forum of the Americas World News
July 2025
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  
« Jun    
last celebrity gossip
Gossip Stone - celebrity life and gossip

Recent Posts

  • Pulsar Fusion Confirms Expansion to U.S. with New Texas Office, Signs MOU with Thales Alenia Space, Unveils UK’s Largest Space Testing Facility, and Releases New Mission Video to TitanJuly 3, 2025
  • First National Capital Corporation Releases Groundbreaking Research on ERP Financing Trends & Benchmarks for 2025July 3, 2025
  • Global Leader VAC AERO Establishes First US Facility in Greenville, SCJuly 2, 2025
  • Billboard Charts Dance Diva Fawn Makes the Summer Sizzle with Her New Club Track ‘Miami’July 2, 2025
  • STS Impact Windows, Doors & Roofing Expands Hurricane Protection Services Throughout Boca Raton and South Florida RegionJuly 2, 2025
Brand Values Content
VUGA Enterprises - media network PR & Marketing
  • Small Businesses Risking Vendor Relationships With Late Payments
    Small Businesses Risking Vendor Relationships With Late Payments Business
  • GoodFirms Brings out a New List of the Most Popular Order Management Software for 2023
    GoodFirms Brings out a New List of the Most Popular Order Management Software for 2023 Business
  • War Day 57 :: war chronicles with Advisor to Ukraine President, Intel Officer, Alexey Arestovych
    War Day 57 :: war chronicles with Advisor to Ukraine President, Intel Officer, Alexey Arestovych World News
  • President Putin accuses Ukraine of “terrorism” after Crimea bridge attack – BBC News
    President Putin accuses Ukraine of “terrorism” after Crimea bridge attack – BBC News World News
  • Secretary Blinken’s Meeting with Kazakh President Tokayev
    Secretary Blinken’s Meeting with Kazakh President Tokayev World News
  • War Day 210: war diaries w/Advisor to Ukraine President, Intel Officer @arestovych & #Feygin
    War Day 210: war diaries w/Advisor to Ukraine President, Intel Officer @arestovych & #Feygin World News
  • Heyday Marketing Named Inc.’s 2022 Best in Business and Provides Strategic Ways to Grow Businesses in 2023
    Heyday Marketing Named Inc.’s 2022 Best in Business and Provides Strategic Ways to Grow Businesses in 2023 Business
  • War in Ukraine, Analytics. Day 838 (part2): What Are the Components of a Possible Defeat?
    War in Ukraine, Analytics. Day 838 (part2): What Are the Components of a Possible Defeat? World News
aerospace company
stem cell clinic in kiev
medical spa in miami
Fashion TV free

Copyright © 2023 195 News. All Rights Reserved by Coolaser | Partner of VUGA Enterprises |  Advertising: Get Published

Powered by .