On June 7, 2023 the Insurance Commissioner of the State of California ("Commissioner") was appointed Conservator of Crusader Insurance Company ("Crusader") by the California Superior Court for the County of Los Angeles. The Court, having reviewed the ex parte application and support papers for an order appointing the Commissioner as Conservator of Crusader pursuant to Insurance Code section 1011, and good cause appearing, the Court finds that the Commissioner has found, determined and adequately shown that Crusader is in such condition that its further transaction of business will be hazardous to its policyholders, creditors, and the public.
