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South Carolina Warranty Insurer Faces Closure

July 22, 2008

COLUMBIA, S.C. - A South Carolina-based warranty insurer faces closure after the state's Department of Insurance filed a lawsuit requesting its shutdown and turn over of property, reported Automotive News.

South Carolina Insurance Director Scott Richardson filed a lawsuit against Heritage Warranty Risk Retention Group Inc. and requested that the state court shut down the company's operations and turn over its assets to the Insurance Department.

Heritage is a national insurer of independent vehicle service contracts, with offices in Charleston, S.C. and Dublin, Ohio.

The state department did not release any statements regarding the pending lawsuit. A lawyer for Heritage did not respond to Automotive News request for comment.

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