Contact Shepherd Smith Edwards and Kantas To Explore Your Legal Options

The South Carolina Department of Insurance has petitioned state court to place Atlantic Coast Life Insurance Company into rehabilitation following severe financial concerns, including allegations that tens of millions in unrated collateral loans were misreported as investment-grade bonds. Securities law firm Shepherd Smith Edwards and Kantas is offering free ase consultations to policyholders to assess whether their brokers unsuitably recommended these high-risk, illiquid annuities for high commission payouts.

The South Carolina Department of Insurance has filed a petition with a state court to place Atlantic Coast Life Insurance Company and its reinsurance affiliate Southern Atlantic Re into rehabilitation. The state’s insurance department is trying to gain control of the two insurers from owner Advantage Capital (A-Cap).