AFFIRMATIVE INSURANCE COMPANY
PLACED IN LIQUIDATION 3/24/2016
Affirmative Insurance Company was found to be insolvent and placed into liquidation by the Circuit Court of Cook County, Illinois pursuant to an Order of Liquidation dated March 24, 2016. The liquidation will be administered by the Illinois Office of the Special Deputy Receiver (OSD).
The Liquidation Order permanently enjoins all persons, including policyholders and
creditors, from instituting or further prosecuting any action against Affirmative
except within the Illinois liquidation proceedings. In addition, the Texas Guaranty
Act imposes an automatic six-
The Texas Commissioner of Insurance issued an Order designating Affirmative as an impaired insurer effective March 24, 2016. The TPCIGA thus became obligated to undertake its statutory obligations to Texas policyholders and claimants under TEX.INS.CODE chapter 462 on that date. A copy of the Commissioner's Order can be found here.
CANCELLATION OF POLICIES
The Liquidation Order cancels all in-
NEW & PENDING LOSS CLAIMS INFORMATION
All new claims should be reported to the Office of the Special Deputy Receiver, (312)
The OSD will arrange for the transfer of loss claim files to TPCIGA for handling.
Policyholders and claimants are requested to forgo contacting TPCIGA on non-
If you have insurance through another carrier, including uninsured motorists' coverage or health insurance, that insurance is now primary and you should contact your carrier to make a claim. All forms of other available insurance must be exhausted before TPCIGA can consider payment of your claim.
LAWSUITS & STAY OF LITIGATION
Any pending lawsuit in which Affirmative is obligated to defend a party is automatically stayed for a period of six months from the date of the Commissioner's order designating Affirmative as an impaired insurer, or until September 24, 2016, pursuant to TEX.INS.CODE §462.309. The statute of limitations is not tolled by the automatic stay.
PRIOR OR PENDING SETTLEMENTS
TPCIGA is not bound by a settlement or release entered into by Affirmative or its insureds, and such a settlement is not evidence of liability or damages against TPCIGA or an insured. TEX.INS.CODE §462.303. TPCIGA is obligated to review all claims to determine the extent to which they may be payable under the Guaranty Act.
Claims for unearned premium will be processed as soon as possible after TPCIGA receives all necessary financial information from the OSD. It is not necessary to file a claim with TPCIGA for your unearned premium.
OSD CONTACT INFORMATION
Contact the Office of Special Deputy by calling (312) 836-
Information as of 03/28/2016
Affirmative Insurance Company
Information on this site is not legal advice and is not intended to be a comprehensive statement of the law or of the TPCIGA's policies and procedures. References to the laws of any jurisdiction are for informational purposes only and are not a substitute for the official version of a statute. TPCIGA makes no warranty as to the accuracy or reliability of the content of this website or other related websites.
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