Georgia insurance regulators are investigating the financial practices of Southeastern United Insurance Co., which sold workers’ compensation insurance coverage to 53 municipalities and hundreds of companies before being liquidated, according to a story by Georgia Public Broadcasting on Monday.

The broadcast said municipalities, some cash-strapped, paid between $19,000 and more than $200,000 for coverage their employees may never ­receive.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.