On May 30, 2013, Ullico Casualty Company was found to be insolvent by a Delaware Court and was placed into liquidation proceedings. The liquidation will be administered by the Delaware Department of Insurance through its Deputy Receiver ("DR"), George Piccoli. The Texas Commissioner of Insurance has designated Ullico as an impaired insurer, triggering the duties of the Texas Property and Casualty Insurance Guaranty Association (TPCIGA) to handle Texas claims for certain policy losses of Ullico.
INSURANCE POLICY & COVERAGE INFORMATION
The DR will send notice to Ullico policyholders advising of the termination of their policies. Policyholders should immediately contact their insurance agent or broker in order to obtain replacement coverage effective no later than June 30, 2013. The Texas Department of Insurance website offers an FAQ for consumers regarding policies and coverages.
NEW & PENDING LOSS CLAIMS INFORMATION
Policyholders should continue to notify Ullico of new claims and lawsuits.
The DR will arrange for the transfer of loss claim files to TPCIGA for handling.
Policyholders and claimants are requested to forgo contacting TPCIGA for 4-
If you have insurance through another carrier, that insurance is now primary and you should contact your carrier to make a claim. All forms of other available insurance, including health benefits, must be exhausted before TPCIGA can consider payment of your claim.
WORKERS' COMPENSATION CLAIMS
The DR has arranged for workers' compensation claimants to continue to receive income benefits without interruption for up to eight (8) weeks without interruption until TPCIGA has received the Texas claims and can assume handling of payments. Claims for medical benefits will be handled by TPCIGA once the claim files have been received.
Claims for unearned premium will be processed as soon as possible after TPCIGA receives all necessary financial information from the DR. It is not necessary to file a claim for your unearned premium.
LAWSUITS & STAY OF LITIGATION
TEX.INS.CODE §462.309 provides for an automatic stay of any lawsuit in which Ullico is a party or is obligated to defend a party for a period of six months from the date of the Commissioner's order designating Ullico as an impaired insurer.
The Guaranty Act does not cover surety or bond claims. The DR will continue to handle these claims.
DR CONTACT INFORMATION
You can contact the Deputy Receiver by calling 1-
ULLICO CASUALTY COMPANY IN LIQUIDATION
c/o Delaware Insurance Department
Bureau of Rehabilitation and Liquidation
704 N. King Street
Wilmington, DE 19801
Information as of 06/7/2013
Ullico Casualty 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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