NU Online News Service, Oct. 9, 1:03 p.m. – Texas Insurance Commissioner Jose Montemayor has shut down Britannia International Life & Casualty Ltd., Houston, by issuing an emergency cease-and-desist order.
The order also applies to Lyndal Ray Stocks, a Houston insurance agent. Stocks is Britannia’s operator, officials say.
Texas officials have accused Britannia of providing stop-loss coverage for questionable health plans that cover more than 800 employers in 15 states.
Stop-loss coverage protects self-funded health plans against large, unexpected claims costs.