Utah insurance co-op closure leaves $33 million in unpaid claims

Salt Lake City capital Utah insurance co-op

The nonprofit cooperative has now collapsed and has left hospitals without millions in payments. Arches Mutual Insurance Co, a nonprofit Utah insurance co-op, has now collapsed. As a result, there are millions of dollars worth of unpaid claims. This could leave hospitals without a massive number of payments. The Utah Department of Insurance said the not for profit cooperative will likely not pay its debts until next year. Despite the fact that Arches Mutual Insurance still owes hospitals $33 million, this debt won’t be paid soon. The Utah Department Insurance…

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