NOTICE
TO THE SURETY BONDHOLDERS, DEBTORS, PRINCIPALS, OBLIGEES, CLAIMANTS,
CREDITORS AND ALL OTHER PERSONS
INTERESTED IN THE AFFAIRS OF
COMMONWEALTH INSURANCE COMPANY (CIC) (IN LIQUIDATION)
NOTICE IS HEREBY GIVEN:
The Commonwealth Court of Pennsylvania ordered Commonwealth Insurance Company (CIC) into liquidation effective March 20, 2014. Michael F. Consedine, Insurance Commissioner of the Commonwealth of Pennsylvania, was appointed the Statutory Liquidator, and was ordered to take possession of CIC's property and to liquidate its business. Deputy Insurance Commissioner Joseph DiMemmo oversees the liquidation on his behalf.
This information is important. It is recommended that you read it carefully before contacting the Liquidator's Office with questions. You may also want to consult your attorney or insurance advisors before you proceed.
All bonds issued by CIC will terminate at their normal expiration, upon replacement, or on April 19, 2014 (30 days from liquidation), whichever is soonest.
If you have and want to pursue a claim against CIC, you must file a proof of claim in order to have your claim considered. Proofs of claim must be filed no later than November 21, 2014.
A proof of claim must be filed even if a claim was made against CIC prior to liquidation, and a separate proof of claim form must be filed for each claim you have. A proof of claim shall include the following: A proof of claim form containing the original signature of the claimant; a description of the claim and any security interest; whether collateral security or personal security is pledged in accordance with the terms of the surety bond; documentation of any payments made on the claim; and a statement that the amount is justly owed the claimant. If you require additional proof of claim forms, please request them from the Statutory Liquidator.
Proof of Claim forms can be obtained as
follows:
Download: www.insurance.pa.gov
Click on Consumer Protection, then Liquidations & Rehabilitations.
Request by E-Mail: ra-in-claims@pa.gov
Request by Telephone: (717) 787-7823
Request by Mail: Statutory Liquidator for CIC, Capitol Associates Building, 901 N. 7th Street, Harrisburg, PA 17102
It will be several years before all of CIC's assets are collected and distribution amounts can be determined. To participate in a distribution you must file a proof of claim. It is important that you keep CIC fully advised of all developments in these cases so that CIC can use this information to recover funds and thereby potentially increase the distribution to surety bondholders and creditors.
Whenever a claim is based upon an instrument in writing, a copy of the document should be attached to the proof of claim. If the document has been destroyed, a statement of the facts and circumstances of the loss must be filed, under oath, with the claim.
The Order of Liquidation enjoins all persons from instituting or continuing any action at law or in equity or any attachment or execution against CIC, or the Statutory Liquidator. All persons indebted to or having any property of CIC in their possession, directly or indirectly, are hereby notified to tender an account of the indebtedness and to pay the same and deliver such property to the Statutory Liquidator.
CHANGE OF ADDRESS NOTIFICATION
YOU ARE REQUIRED BY ARTICLE V OF THE INSURANCE DEPARTMENT ACT TO NOTIFY THE STATUTORY LIQUIDATOR OF YOUR CHANGE OF ADDRESS. IF YOU FAIL TO DO SO YOU MAY JEOPARDIZE RECOVERY FROM THIS ESTATE.
Additional material which answers frequently asked questions regarding the liquidation process can be found at the Department's website www.insurance.pa.gov (click on Consumer Protection, then Liquidations & Rehabilitations). Please review this material carefully.
This notice and the information contained herein are in summary form and may not contain all necessary information for your particular situation. You are urged to consult an attorney if you have any questions. All claims are subject to payment only in accordance with applicable law.
General questions about the liquidation procedure should be addressed to the Statutory Liquidator at:
Statutory Liquidator of CIC
Capitol Associates Building
901 N. 7th Street
Harrisburg, PA 17102
(717) 787-7823
Ref# 0003137869-01
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