Please note our office will be closed Friday, March 29th in honor of the Easter holiday. We will reopen at 8:00 am on Monday, April 1st

Updated! Indemnity Insurance Corp Liquidation

Bulletin – Monday, April 21, 2014

On November 18th, 2013 we advised you of the Delaware Court orders placing Indemnity Insurance Corporation RRG (IICRRG) into a status of Rehabilitation [Indemnity Insurance Corp Rehabilitation]. Additional information was also provided on November 22nd 2013.

Ongoing examination since the seizure of IICRRG by the Delaware Insurance Department, the appointees and designees of the Commissioner, as well as the management of IICRRG, has confirmed and determined that IICRRG is insolvent.

Read the Liquidation and Injunction Order with Bar Date

Your insured will be getting a notice of policy termination directly from the Delaware Insurance Department.

All coverage through Indemnity Insurance Corporation will cease at the earlier of:

  • The stated expiration or termination date of the policy
  • The effective date and time of a replacement insurance policy or
  • The Court wrote: "all insurance policies and contracts of insurance issued by IICRRG...will be terminated effective the 18th day of April, 2014 or the thirtieth (30th) calendar day from the date of this Order whichever is later..."

The effect of the Order for the policy holder is that all policies will be terminated no later than May 10th, 2014 at 12:01 AM, without exception.

The insured, RCA and Tuscano will be receiving a copy of the official final notice of cancellation sometime soon.   It will show the termination date as May 10th, 2014 as of 12:01 AM.   Subsequently, the Receiver will be sending a Liquidation Package to all interested parties, which would include policyholders and Tuscano. This Package may be mailed as early as next week. The Package will contain information about filing a Proof of Claim (POC) with the Receiver. This POC may be used to file a claim for return of premium or other claims against IIC RRG As soon as we are in receipt of either of these documents, they will be forwarded to you.

Your underwriters are aware of this situation and are in the process of contacting you with alternative quotations to assist you in replacing this business with another insurer.

Paragraph 16 of the order, beginning on page 11 of 17, advises the BAR DATE for filing claims against the remaining assets of IICRRG.   Subsequent paragraphs provide further insight and instruction regarding the claim filing process. This would include claims for the return of unearned premiums.  Questions regarding this process can be directed to the Delaware Insurance Department staff onsite at IICRRG by calling 410-472-6001.

Other important documents
Frequently Asked Questions (FAQ)
Proof of Claim Instructions
Proof of Claim Form
Notice of Liquidation and Injunction Order & Stay, Bar Date, & Policy Cancellation
Liquidation Notice Cover Letter

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