North Carolina Insurance Commissioner Mike Causey today released the following statement on the federal jury’s verdict, which found Greg Lindberg and John Gray guilty on all counts and John Palermo not guilty:
“When I took office, I swore an oath to support and maintain the laws of this State and to faithfully discharge the duties of my office as Commissioner of Insurance. I also committed to rooting out insurance fraud and corruption wherever it may be, and to prosecute such fraud to the fullest extent of the law. It is with these guiding principles that I agreed to cooperate with the federal authorities in their investigation.
“Since I took office in January 2017, I have worked with our professional staff to ensure that all companies are treated fairly and consistently, and that the policyholders of our State are protected. The verdict handed down today by the jury emphasizes this point and shows that the Office of the Commissioner of Insurance is not for sale.
“I appreciate all the work that the U.S. Attorney’s Office and the Federal Bureau of Investigation have put into this case.”
With regard to how the verdict affects the insurance companies in rehabilitation – This verdict does not affect the primary purpose of rehabilitation – which is to protect the interests of policyholders and to work toward returning the companies to a financially stable position.