Texas Places Funeral Insurers In Receivership

A state court in Travis County, Texas, has “issued a permanent injunction restraining the companies and their agents from conducting the business of the companies and restraining any other parties from taking any actions against their property,” Texas officials say.

The Texas insurance commissioner, the receiver, has hired Donna Garrett to be the special deputy receiver in charge of managing the receivership efforts, according to officials at the Missouri Department of Insurance, Financial Institutions & Professional Registration.

Consumers should continue to make premium payments, and claimants should continue to submit claims, Texas officials say.

Missouri insurance regulators note that they are trying to determine why the finances of National Prearranged Services and of Lincoln Memorial Life are so weak.