Can Pawtucket Mutual be saved?(Company News)(Company Profile)

National Underwriter Property & Casualty-Risk &Benefits Management | December 15, 2003| | Copyright

Pawtucket Mutual Insurance Company is in the intensive care ward, and there are many determined people working extremely hard to keep it out of the morgue.

According to Marilyn Shannon McConaghy, the rehabilitator appointed by a state superior court judge, the Pawtucket, R.I.-based homeowners and auto insurer was placed into rehabilitation on May 1. The company was the victim (or perpetrator, some might say) of inadequate rates, poor investments and systems breakdowns.

Ms. McConaghy is the director of the Rhode Island Department of Business Regulation, ...

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