Cornerstone National Insurance Company, a Missouri-domiciled propert
y and casualty insurance company, was placed into receivership by the Circuit Court of Cole County.
Missouri Department of Commerce and Insurance Director, Angela L.
Nelson, has been named receiver of Cornerstone, which allows the director
, as receiver, to take over operations of the company.
The court placed Cornerstone into rehabilitation effective January
1, 2026 to February 28, 2026, and liquidation effective March 1, 2026. All Corner
stone policies will terminate by no later than March 31, 2026.
Cornerstone sells homeowners, auto, and liability insurance polici
es, with most of its 2,700 policies in Oklahoma and Illinois.
Cornerstone experienced persistent and substantial losses prior to being
placed in receivership, DCI said. The insurer’s surplus dropped from $1,142,458 a
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s of December 31, 2024, to ($378,131) as of September 30, 2025.
Insurance regulators in at least seven other states have taken recent action t
o prevent Cornerstone from writing insurance policies in their respective states.
Receivership is a judicial process where a Court appoints a receiver
to take possession of the insurer’s assets and administer them unde
r the Court’s supervision. Cornerstone’s liquidation will allow the receiver to m
arshal the assets and pay creditors according to a statutory plan upon Court approval.
Cornerstone’s existing policies will remain in place until March 1, 2026, u
nless they otherwise expire by their terms or are cancelled.
Active policies as of March 1, 2026, will terminate no later than March 31, 2026.