NATIONAL CONFERENCE OF INSURANCE GUARANTY FUNDS (NCIGF), INCEPTION-TO-DATE INSOLVENCY FINANCIAL INFORMATION BY COMPANY, TEN LARGEST INSOLVENCIES (1)
Year Insolvent company Payments Recoveries Net cost
2001 Reliance Insurance Company  $2,867,396,758 $1,751,608,142 $1,115,788,616
2002 Legion Insurance Company  1,481,687,959 453,266,892 1,028,421,067
2000 California Compensation Insurance Company  1,105,143,857 354,332,213 750,811,644
2000 Fremont Indemnity Insurance Company  1,045,377,198 723,963,519 321,413,679
2001 PHICO Insurance Company  776,821,738 247,393,029 529,428,708
2006 Southern Family Insurance Company 719,122,670 324,363,428 394,759,242
1988 American Mutual Liability Insurance Company  586,648,605 255,701,413 330,947,192
1985 Transit Casualty Insurance Company 567,967,111 388,722,447 179,244,664
1986 Midland Insurance Company  552,585,201 87,693,851 464,891,350
1987 Mission Insurance Company 507,133,775 589,318,750 -82,184,975

(1) Ranked by payments, from year of insolvency to 2008.

NCIGF Disclaimer: This is not a complete picture. The numbers may be understated as some states have not reported in certain years.

Source: The National Conference of Insurance Guaranty Funds.