04/27/2011
On April 26, 2011, Centennial Insurance Company (“Centennial”) became the subject of an Order of Liquidation (“the Order”) filed on April 27, 2011, in the Supreme Court of the State of New York. The Order appoints the Superintendent of Insurance of the State of New York as liquidator of Centennial (“Liquidator”) and grants the Liquidator full power, possession and control over the assets, business and affairs of Centennial Insurance Company, including all of the property, contracts, rights of action and books and records.
“All parties to actions, lawsuits, and special or other proceedings in which Centennial is obligated to defend a party pursuant to an insurance policy, bond,contract or otherwise are enjoined and restrained from proceeding with any discovery, court proceedings or other litigation tasks or procedures, including, but not limited to, conferences, trials, applicationS for judgment or proceedings on settlement or judgment and the making of all liens, levies or other efforts to execute or collect on debts or judgments for a period of 180 days from the date of entry of this Order;”
“All existing insurance policies of Centennial shall terminate within 45 days of the entry of this Order;”
For the protection of the policyholders, the Order activates the state guaranty associations in the states where Centennial Insurance Company was licensed to do business. Oklahoma policyholders may contact Steve Berner at (405) 843-5454 Ext 108.
If you have questions about the liquidation process, you may contact the New York Liquidation Bureau at 110 William Street, New York, New York 10038 or at (212)341-6814.