INSURANCE
From Times Staff and Wire Reports
Arizona Insurer in Receivership: A Superior Court judge placed Azstar Casualty Co., a Phoenix-based auto insurer, into receivership after the Arizona Insurance Department argued that the firm lacks the assets to meet state requirements. Azstar, which specializes in high-risk auto coverage, has written about $20 million worth of insurance in California over the last three years, according to the California Surplus Lines Assn., the trade group that keeps statistics on sales by insurers that are unlicensed in California.
