ornerstone 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 Di
rector, Angela L. Nelson, has been named receiver of Cornerstone, which allow
s 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 liqu
idation effective March 1,
2026. All Cornerstone policies will terminate by no later than March 31, 2026.
Cornerstone sells homeowners, auto, and liability insurance po
licies, with most of its 2,700 policies in Oklahoma and Illinois.
Cornerstone experienced persistent and substantial los
ses prior to being placed in receivership, DCI said. The insurer’s surplu
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s dropped from $1,142,458 as of December 31, 2024, to ($378,131) as of S
eptember 30, 2025.
Insurance regulat
ors 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 receiver to
take possession of the insurer’s assets and administer them und
er the Court’s supervision. Cornerstone’s liquidation will allow
the receiver 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, unless they otherwise expire by their terms or are cancelled.
Active policies as of March 1, 2026, will terminate no later than March 31, 2026.