---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-007581"
form_type: "8-K"
ticker: null
cik: "0000100716"
company_name: "UNICO AMERICAN CORP"
filed_at: "2023-06-02T23:59:59+00:00"
generated_at: "2026-06-14T07:52:11.894170+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Insurance Commissioner petitions to conserve Crusader Insurance, Unico American's main subsidiary

## Summary
- On May 31, 2023, California Insurance Commissioner filed to take control of Crusader Insurance, Unico American's principal operating subsidiary.
- Commissioner asserts Crusader is in hazardous financial condition based on March 31, 2023 statutory statements and actuarial reports.
- Upon court order, the Commissioner will take control of Crusader, suspending powers of its directors, officers, and managers.
- Crusader has been under regulatory supervision since September 2021 and ceased writing new policies; no other active subsidiaries as of May 31, 2023.
- Proposed order names Joseph Holloway as Deputy Conservator to manage Crusader.

## SEC filing metadata
- accession: 0001654954-23-007581
- form_type: 8-K
- cik: 0000100716
- company_name: UNICO AMERICAN CORP
- filed_at: 2023-06-02T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/100716/000165495423007581/0001654954-23-007581-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/100716/000165495423007581/unam_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-007581
- JSON: https://secwatch.observer/filing/0001654954-23-007581.json
- Plain text: https://secwatch.observer/filing/0001654954-23-007581.txt

## Key facts
- Distress & Bankruptcy
  UNICO AMERICAN CORP entered receivership in Superior Court of California, Los Angeles County, Central District (petition 2023-05-31).
  - Proceeding: receivership
  - Court: Superior Court of California, Los Angeles County, Central District
  - Petition: 2023-05-31
  source text: the Insurance Commissioner of the State of California (the “Commissioner”) filed a Verified Petition For Order Appointing the Insurance Commissioner as the Conservator of the principal operating subsidiary of the Company, Crusader Insurance Company (“Crusader”) on May 31, 2023 (the “Petition”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/100716/000165495423007581/0001654954-23-007581-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.