We sit down with you and build your perfect lead list. Book a call with founders.
Sign Up
Login

Legion Insurance Company Analysis

What is Legion Insurance Company?

Legion Insurance Company, founded in 1875, has a rich history of serving the community, particularly veterans, through its longstanding relationship with the American Legion established in 1919. The company primarily engages in property and casualty insurance, with a smaller portion of its business dedicated to health insurance. Notable achievements include legislative efforts to support veterans, such as the creation of the American Legacy Scholarship Fund and the Veterans Health Care Budget Reform Act. The company also established the "Spirit of Service" Awards and the Blue Star Salute program to honor military families. However, it faced financial difficulties, leading to its rehabilitation in 2002 and subsequent liquidation in 2003, with the estate closing in 2019.

Industry
Casualty Insurance
Financial Performance
$2,500,299

Impact On Customers

The exit of Legion Insurance Company from California will significantly impact its customers. As the company undergoes liquidation, all covered claims will be paid by the California Insurance Guarantee Association (CIGA). This means that policyholders will still have their claims honored, but they may face changes in their coverage options and customer support. Customers will need to seek alternative insurance providers for future coverage, as Legion will no longer be offering policies in California. The transition may also lead to delays in customer support as the company winds down its operations.

Exit Reason

Legion Insurance Company is leaving California primarily due to regulatory challenges and financial difficulties. The California Insurance Commissioner sought and received an order for the liquidation of Legion Insurance Company, which indicates that the company faced significant issues, including thousands of unpaid claims. This liquidation order reflects the company's inability to meet its financial obligations in the state, leading to its departure. The economic environment and regulatory pressures in California contributed to this decision, as the company could not sustain its operations under the existing conditions.

Replacement Options

  1. California Insurance Guarantee Association (CIGA) - For California policyholders, CIGA will cover all claims for a period of thirty days following the liquidation order. After this period, customers are advised to obtain new or replacement insurance policies to ensure continued coverage.
  2. Finding New Insurance Providers - Customers can utilize resources such as the Pennsylvania Department of Insurance's Consumer Help Center, which provides tools for locating and researching alternative insurance companies and agents.
  3. Contacting Insurance Resources - Customers are encouraged to reach out to the California Department of Insurance Consumer Hotline for assistance and guidance on finding new insurance options.

Exit Announcement Date

The decision for Legion Insurance Company to leave California is associated with an ancillary liquidation order entered on April 25, 2003.

Find more companies like Legion Insurance Company

Insurance Companies Leaving California

Want to research more data points on Legion Insurance Company?
Start with Extruct

Platform Links

WebsiteOfficial WebsiteDPADPA
Extruct
© Copyright 2025, All Rights Reserved
Linkedin