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CastlePoint National Insurance Company

04/01/2017

On April 1, 2017, CastlePoint National Insurance Company (“CastlePoint”) was the subject of an Order of Liquidation with a Finding of Insolvency entered by the Superior Court of the State of California City and County of San Francisco in Case No. CPF-16-515183. The Order appoints the Insurance Commissioner of the State of California, with David E. Wilson to serve as the Special Deputy Insurance Commissioner in charge of the CastlePoint Liquidation and Joseph Holloway, Jr., to serve as Liquidation Manager for Special Deputy Insurance Commissioner Wilson, hereinafter, collectively with the Commissioner, as liquidator (“Liquidator”) of CastlePoint and grants the Liquidator full power, possession and control over the assets, business and affairs of the company, including all of the property, contracts, rights of action and books and records.

 

The Order sets a Claims Bar Date of December 31, 2017. Any and all claims against CastlePoint (except those policyholder claims already pending against CastlePoint, which are hereby deemed filed with the Liquidator) must be filed with the Liquidator no later than December 31, 2017.

 

The Liquidator’s staff may be contacted at:

CastlePoint

c/o The Office of the Special Deputy Insurance Commissioner

100 Pine Street, Suite 1200

San Francisco, CA 94111

 

or by phone at (415) 676-5000

 

Policies issued by CastlePoint will be canceled on the earliest of the following dates:

• At 12:01 a.m. on the 31st day following the effective date of the Order

• The date of expiration of the policy coverage

• The 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 CastlePoint was licensed to do business.

 

More information may be obtained at https://www.caclo.org/



news | by Dr. Radut