Word: receiverships
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...HPHC incurred losses of $200 million--much larger than those expected. Then, on Jan. 4, it lost its independence and came under the receivership of Massachusetts, a process instituted by the state to aid insurance companies that have failed financially. The company currently insures 1.1 million members in Massachusetts alone and has operations in several other New England states...
...receivership team is looking at the available nonprofit alternatives prior to moving in the direction of for-profit sale," said Christopher J. Goetcheus, spokesperson for the Massachusetts Division of Insurance...
Harvard Pilgrim is the area's largest Health Maintenance Organization. Early this year, the organization found itself faced with huge losses from 1999--losses that prompted Massachusetts officials to place Harvard Pilgrim into receivership...
...seems that Israel is going into political receivership on that count," Wisse said. "If you ask someone else to be the guarantor of your security, then basically you're going into political receivership...
Mutual-fund regulations prohibit the kind of leverage that drove Long Term Capital into receivership. The Securities and Exchange Commission also makes mutual funds disclose details of their investments. There are few such restrictions on hedge funds--or protections for their investors--except that the funds may not accept investors with less than $1 million in liquid assets...