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.