On May 30, 2013, ULLICO Casualty Company (“ULLICO Casualty”) became the subject of a Liquidation and Injunction Order with Bar Date (“the Order”) filed on May 30, 2013, in the Court of Chancery of the State of Delaware. The Order appoints the Commissioner of Insurance for the State of Delaware as Receiver of ULLICO Casualty and grants the Receiver full power, possession and control over the assets, business and affairs of ULLICO Casualty, including all of the property, contracts, rights of action and books and records. The Receiver may appoint a Deputy Receiver to assist the Receiver in accomplishing the directives of the Order .
Policies issued by ULLICO Casualty will be canceled on the earliest of the following dates:
· June 30, 2013, 12:01 AM
· The stated expiration or termination date and time of the policy.
· The effective date and time of cancellation pursuant to a notice of cancellation which cancels such insurance policy.
· The effective date and time 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 ULLICO Casualty was licensed to do business.