American Bonding Company transacted Property and Casualty insurance business. The company was domiciled in Arizona, but a large percentage of its business was in California.
A conservation order was obtained against American Bonding Company on January 31, 1995 due to evidence that continued operation of American Bonding Company would be hazardous to policyholders.
In accordance with the terms of the Receiver's Agreement between the Insurance Commissioners of California and Arizona, all claims are being paid in Arizona.
On June 18, 2004, a court order was approved by the Superior Court of California for the County of Los Angeles to discharge the California Insurance Commissioner as Conservator. The estate is now closed.
