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Lumbermens Mutual Casualty Co., American Manufacturers Mutual Insurance Co., and American Motorists Ins. Co.

05/10/2013

On May 10, 2013, pursuant to an Order of Liquidation with a Finding of Insolvency ("the Order") filed on May 8, 2013, in the Circuit Court of Cook County, Illinois, the following companies were declared insolvent and ordered liquidated:

•American Manufacturers Mutual Insurance Company
•American Motorists Insurance Company
•Lumbermens Mutual Casualty Company

The Order creates an estate comprising all of the liabilities and assets of the three companies which, pursuant to a prior order of the Court, have been substantively consolidated. The Order aappoints the Director of Insurance for the State of Illinois as Liquidator and grants the Liquidator full power, possession and control over the assets, business and affairs of the consolidated estate, including all of the property, contracts, rights of action and books and records.

Policies issued by these companies will be canceled on the earliest of the following dates:
· June 10, 2013, 12:01 AM
· The stated expiration or termination date of the policy.
· The effective date of cancellation pursuant to a notice of cancellation which cancels such insurance policy.
· The effective date the policyholder replaces the insurance coverage or otherwise terminates the policy.

For the protection of the policyholders, the Order activates the state guaranty associations in the states where these companies were licensed to do business.



news | by Dr. Radut