Notice of Liquidation of Key Insurance Company
Key Insurance Company (“Key”) was the subject of an Order of Liquidation issued by the District Court of Shawnee County, Kansas (“the Court”) on March 31, 2025. The final effective date of the Order is April 1, 2025. A copy of the Order is attached to this Notice.
The company was domiciled in Kansas and licensed to write coverage on personal auto lines in Alabama, Arizona, Kansas, Missouri, Nevada, and Oklahoma.
Policies issued by Key Insurance are cancelled on the earlier of the expiration date of a policy in force, the date coverage is replaced by a policyholder, or no later than 30 days after the final effective date of liquidation. Policyholders should contact their agent to find replacement coverage as soon as possible to avoid a lapse in their insurance and remain compliant with Oklahoma’s auto insurance requirements.
Additional information regarding Key Insurance Company in Liquidation can be found on the Kansas Insurance Department website at https://insurance.kansas.gov/legal-issues/ and on the Key Insurance website at https://keyinsco.com/.
Guaranty Association FAQs:
Please refer to our FAQ page (https://oklahoma.ncigf.org/frequently-asked-questions/) for general information about the Association (OPCIGA).
Additional Information:
Residency is a Determinant Factor of GA Coverage
OPCIGA’s coverage, to the extent provided by the OPCIGA Act, applies to policyholders or claimants residing in Oklahoma on the date of the insured event for loss claims and on the date of liquidation for unearned premium claims.
Contacting OPCIGA
Policyholders and claimants with questions about OPCIGA coverage should send an email to claims@opciga.org and/or call our main line phone number, (405) 843-5454. This number will allow callers to leave a message. OPCIGA will respond to emails and calls as soon as possible. Generally, we ask that those calling or sending an email allow two business days for contact/response, but a large volume of calls and emails may cause delays.
First Notice of Loss (FNOL)
We require that a FNOL is provided to and accepted by the Special Deputy Receiver (SDR) before we will begin processing a claim. This is applicable to any FNOL provided
after the effective date of liquidation. You may contact the SDR to file a FNOL by sending an email to claims@keyinsco.com or calling (877) 539-4672.
We will not assign a claim to an OPCIGA desk adjuster until the SDR has notified us that they have accepted the FNOL and assigned a claim number.
Forms
OPCIGA does not require a Proof of Claim form.
We may require the policyholder or claimant to execute certain forms (e.g. affidavit attesting to net worth, affidavit attesting to our insurance coverage, affirmation of amount due for refund of unearned premium) depending on the claim. These documents are usually sent by our assigned desk adjuster or a staff support person on a case-by-case basis as they review claims.
Claims for Property Damage, Bodily Injury
OPCIGA has assumed responsibility for claims per the provisions of Oklahoma Statute §36-2001 – §36-2020.2). Claims reported to Key Insurance will be transferred to OPCIGA for processing. Please note that the timeframe for the OPCIGA to receive your claim file will vary. Once your claim file is received, you will be contacted regarding the next steps. Since the OPCIGA is legally defined as a payor of last resort, all available other insurance coverages and benefits must be exhausted before OPCIGA consideration can be made regarding your claim (per OS §36-2012). OPCIGA is entitled to a credit as to its obligation for any other available insurance. Please submit any claim(s) that may be covered by other available insurance to the company providing such coverage.
Premium Refunds
If you attempted to renew a policy with an effective date on or after March 4, 2025, and paid premium to Key, you will receive a refund. You may be entitled to a refund if you paid premium on a policy that did not expire or was not cancelled on or before April 1, 2025. We cannot issue premium refunds until we receive instructions from the Special Deputy Receiver (SDR). Due to the volume of data and claims to be transferred by the SDR to guaranty associations in multiple states following the effective date of the liquidation order, we expect processing delays. We are working as fast as possible to ensure you get your refund as soon as possible. You do not have to request a refund or take any other action.