Cornerstone National Insurance Company, a Missouri-domiciled property
and casualty insurance company, was placed into receivership by the Circuit Court of Cole County.
Missouri Department of Commerce and Insurance Director, Ang
ela L. Nelson, has been named receiver of Cornerstone, which allows the direc
tor, as receiver, to take over operations of the company.
The court placed Cornerstone into rehabilitation effective Janua
ry 1, 2026 to February 28, 2
026, and liquidation effective March 1, 2026. All Cornerstone 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
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placed in receivership, DCI said. The insurer’s surplus dropped from $1,14
2,458 as of December 31, 2024, to ($378,131) as of September 30, 2025.
Insurance regulators in at least seven other states have taken recent
action to prevent Cornerstone from writing insurance policies in their respective states.
Receivership is a judicial process where a Court appoints a re
ceiver to take posses
sion of the insurer’s assets and administer them under the Court’s supervision. Cornerstone’s liquidation will allow the receiv
er to marshal 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, unl
ess they otherwise expire by their terms or are cancelled.
Active policies as of March 1, 2026, will terminate no later than March 31, 2026.