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The Insolvency Process - nolhga.com

State life and health insurance guaranty associations are state entities (in all 50 states as well as Puerto Rico and the District of Columbia) created to protect policyholders of an insolvent insurance company. All insurance companies (with limited exceptions) licensed to sell life or health insurance in a state must be members of that state ...…

Access Insurance Company Liquidation

A Texas court has issued an order of liquidation for Access Insurance Company, an auto insurer which has 42,785 policies in Pennsylvania. The liquidation order was signed after the Texas Insurance Department determined Access Insurance to be insolvent.…

Insurance Company Bankrupt Guaranty Funds

Dec 07, 2009 · If you filed a claim prior to your company becoming insolvent, your claim will be paid. After the insolvency, you'll need to find a new insurer. The chart below shows life insurance and annuity coverage that may be available in your state if your insurance company goes bankrupt. It is based on information gathered by the National Organization ...…

Impairments & Insolvencies - NOLHGA

If you are interested in a company that does not appear on the list, please contact your state life & health insurance guaranty association or insurance department. To search a more comprehensive list of insolvencies, including smaller insolvencies for which at least one state life & health insurance guaranty association was triggered, use the ...…

Property/Casualty InsuranceCompany Insolvencies

2 The four main conclusions of the second report, Study of Property-Liability Insurance Company Insolvencies During 1988-1990 with Regards to Statements of Actuarial Opinion, issued in 1992, were: 1. The most common principal cause of insolvency cited by the regulator was “under-…

Insolvent insurers - insurance protection FSCS

An insurance insolvency occurs when an insurer finds itself in financial difficulty and the regulator believes it won’t be able to meet its liabilities. The firm will then often enter the insolvency process, e.g., administration, provisional liquidation or liquidation, and a court ……

The Basics of Insurance Company Insolvency and Financial ...

Apr 16, 2009 · The final step is an order of Liquidation, similar to a Chapter 7 proceeding. The Insurance Commissioner gathers the assets of the insolvent company, collects proof of claim forms from policyholders and other creditors, and eventually (often many years later) pays out the company's remaining assets to the policyholders and other creditors.…