PMI Mortgage Insurance Co. (PMI) and PMI Insurance Co. (PIC) have been taken into conservatorship by the Arizona Department of Insurance. PMI announced on its website that there will not be a moratorium on claim payments. However, under order by the Arizona regulator, PMI will be fulfilling only 50 percent of claims, with the remaining amount owed deferred as a policy holder claim. The action occurs after an August announcement that the regulator was prohibiting the company from writing new policies.
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