Martell Town Mutual Collapse Haunts Wisconsin After Storm
The 1980 July 15 windstorm toppled Martell Town Mutual Insurance Co after 104 years, wiping out coverage for 3,200 homes and farms in St. Croix, Pierce, Dunn and Polk counties. State insurer probes, lawsuits, and liquidation costs totaling $360,610 reflect ongoing legal activity and efforts to settle claims and recover assets as of 1981.
MENTIONED IN THIS ARTICLE
Wisconsin
Martell Town Mutual Insurance Co
St. Croix
Pierce
Dunn
Polk
Martell
Baldwin
Martell Town Mutual
Co-Op
Lorraine Homan
Office of the Commissioner of Insurance At
Madison
Destruction and debt linger after Wisconsin windstorm
A year after the severe windstorm hit west central Wisconsin, farms like the Downsville Elmwood area reveal damage while liquidators pursue remaining policyholders for about 330 thousand dollars to cover unearned premiums. Martell Town Mutual collapses trigger 3200 former policyholders to face 2.6 million in assessments plus 2.5 million recovered from reinsurers. A 27 million lawsuit targets former officers and directors as insurers to repay all claims, with many claims already paid and policyholders seeking closure.
MENTIONED IN THIS ARTICLE
Wisconsin
Hwy. 72
Downsville
Elmwood
Wilcox
Martell
120 Town Mutuals
Twin Cities Forecast: Clouds and Showers Thursday to Saturday
National Weather Service forecasters predict mostly cloudy Thursday with a chance of showers and highs in the mid to upper 80s. Friday should be partly cloudy with an isolated shower and highs in the upper 80s. Saturday turns fair with cooling temperatures and highs dropping to the low to mid 80s.
MENTIONED IN THIS ARTICLE
National Weather Service
Twin Cities
Also Mentioned on This Page
Wisconsin Insurance Company
Susan Mitchell
Ellsworth
Certified Public Accountants
Alexander Grant and Co
Richmond
Doar, Drill and Show
Gary Bakke
Tom Schumacher
Martell Mutual Town Insurance Co
Mitchell
Bakke
Schumacher
Mr. Bakke
Eau Claire
John Wilcox
Russell Doane
Menomonie
Joonald Baier
Cliff O'Donnell
Wth Hudson
Anton
Tainter
Tilden
Vali
Delmar
Bridge Creek
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