By Lucky Kidd
KANSAS — A Shawnee County District Judge has declared a Kansas insurance company insolvent. MutualAid eXchange had been placed in rehabilitation proceedings earlier this month, and the order issued Tuesday appoints Kansas Commissioner of Insurance Vicki Schmidt as liquidator. Schmidt said MAX, as it’s commonly known, had fallen victim to a combination of a very tough reinsurance market and catastrophic storms across the country.
Policies issued by MAX will remain in force until the earlier of 30 days from the date of the order, expiration of policy coverage, or when coverage was replaced with equivalent insurance in another insurer or otherwise terminated the policy.
MutualAid eXchange was licensed to provide coverage in 28 states with around 30 thousand policies in force, of which 1,390 were in Kansas. Information on the liquidation can be found online at www.maxinsurance.com, or by calling 877-971-6300.
