Foster v. Westmoreland Casualty Co.

Opinion by

President Judge Crumlish, Jr.,

The Insurance Commissioner has filed a petition for liquidation in -our original jurisdiction,1 seeking an involuntary. dissolution of Westmoreland Casualty Company and a formal liquidation order pursuant to Article V of the Insurance Department Act of 1921 (Act).2 Westmoreland has filed preliminary • objections which are now before us.

An independent actuarial firm analyzed Westmorelands financial condition and found significant reserve deficiencies and operating ..losses which threatened its financial integrity. Thereafter, a formal agreement was…