Gramercy Insurance Company

LIQUIDATION ORDER

On August 26, 2013, Gramercy Insurance Company was found to be insolvent and placed into liquidation proceedings by the 53rd District Court of Travis County, Texas.  The Texas Commissioner of Insurance has issued an order designating Gramercy as an impaired carrier, triggering the obligations of the Texas Property and Casualty Insurance Guaranty Association (TPCIGA) to handle Texas claims for certain policy losses of Gramercy.  The liquidation will be administered by the Texas Department of Insurance through its Special Deputy Receiver (SDR), Resolution Oversight Corporation.  

INSURANCE POLICY & COVERAGE INFORMATION

The SDR will send notice to Gramercy policyholders advising of the termination of any remaining in-force policies.  Policyholders should immediately contact their insurance agent or broker in order to obtain replacement coverage effective no later than September 25, 2013.  The Texas Department of Insurance website offers an FAQ for consumers regarding policies and coverages.

NEW & PENDING LOSS CLAIMS INFORMATION

Gramercy handled most of its claims through two Third-Party Administrators, Pro IS (personal auto claims) and NTA (commercial auto claims).  Policyholders should continue to notify these TPAs of new claims.  New claims may also be reported to the SDR by calling (888) 202-0422.  

At this time it is anticipated that TPCIGA will allow the TPAs to continue to handle loss claims on its behalf.  Claimants and insureds should continue to contact the TPA adjusters who have been previously assigned to their claims.  TPCIGA does not yet have any claims information and cannot discuss the status of pending claims.  

If you have uninsured motorists' (UM) coverage through another carrier, that insurance is now primary and you should contact your carrier to make a claim.  UM and all other forms of available insurance, including health benefits, must be exhausted before TPCIGA can consider payment of your claim.  

UNEARNED PREMIUM

Claims for unearned premium will be processed as soon as possible after TPCIGA receives all necessary financial information from the SDR.  It is not necessary to file a claim for your unearned premium.

LAWSUITS & STAY OF LITIGATION

All lawsuits against Gramercy are permanently stayed by order of the Travis County District Court.  In addition, all lawsuits in which Gramercy was obligated to defend a party are automatically stayed for a period of six months, or until February 26, 2014, per TEX.INS.CODE §462.309.

SPECIAL DEPUTY RECEIVER (SDR)Ernesto A. Garza
Resolution Oversight CorporationP. O. Box 2077
San Antonio, TX 78297-2077
Phone (210) 490-8808
Fax (210) 764-5548
info@resolutionoversight.com

More information is available through the SDR's website at www.GICReceivership.com

Information as of 08/29/2013