Judge agrees to liquidate insolvent insurance firm


A Shawnee County judge has agreed to liquidate an Overland Park insurance company after finding the company was insolvent and would be hazardous to policyholders, creditors and others if it were allowed to continue operating.

District Court Judge Jay Befort agreed with Insurance Commissioner Vicki Schmidt's request to liquidate MutualAid eXchange, also known as MAX, after finding the company was insolvent under state law.

"The court has reviewed evidence indicating MAX’s financial condition, including consistent underwriting losses, lack of reinsurance, and declining surplus poses a hazard to its
policyholders, creditors, and others," Befort wrote in the

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