Unfortunately, because Reliance is still not licensed in many states, doctors in those states are still not protected by their state's insurance guarantee fund. For these doctors, a novation may be the only way to protect them from a Reliance bankruptcy. Instead, CBS is allowing all of CBS' members to remain insured with Reliance until their annual policies expire . This leaves every CBS member insured with Reliance for up to a year longer than is necessary. Given that Reliance is facing potential bankruptcy, this inaction by CBS is both inexplicable and inexcusable.
Reliance mulls bankruptcy.
August 15, 2000. Reliance group ratings fall as bankruptcy looms. All Rights Reserved, Dynamic Chiropractic, 2001.