Office of the Special Deputy Receiver

Representing James A. Stephens, Acting Director of Insurance, Illinois Department of Insurance

OSD Mission Statement

The Office of the Special Deputy Receiver represents the Director of Insurance of the State of Illinois in managing all Illinois insurance companies in receivership. Our mission is maximization of assets, the fair disposition of claims, and timely delivery of assets to creditors.

OSD Latest News

Illinois Restaurant Risk Management Association, Inc. - On December 22, 2014, the Supervising Court entered an order approving a 50% first dividend on all timely filed claims recommended for allowance and approved by order of the Court for distribution at statutory priority level 215 ILCS 5/205(1)(d). Pursuant to the Court’s order, the Liquidator has been authorized to make an interim distribution of IRRMA’s estate assets, in the amount of $1,193,806, in order to effectuate the first dividend.

Legion Indemnity Company - On December 5, 2014, the Supervising Court entered an order approving a 100% fourth dividend on all timely filed claims recommended for allowance and approved by order of the Court for distribution at statutory priority level 215 ILCS 5/205(1)(g). Pursuant to the Court’s order, the Liquidator has been authorized to make a distribution of Legion Indemnity Company’s estate assets, in the amount of $15,201,998, in order to effectuate the fourth dividend.

Legion Indemnity Company - Based upon our best estimates and barring any unforeseen circumstances, the Special Deputy Receiver expects that a dividend of 100% will be distributed by December 31, 2014 on timely filed claims allowed at the general creditor level (g) of the Illinois statutory distribution scheme.  This Good Faith Estimate is based upon information available and the circumstances known at the time that it was made.  Before relying on this estimate in making any decisions, be aware that the underlying facts and circumstances upon which it is based are subject to change.

Illinois Restaurant Risk Management Association, Inc. - Based upon our best estimates and barring any unforeseen circumstances, the Special Deputy Receiver expects that a first dividend of 50% will be distributed by December 31, 2014 on timely filed claims allowed at the policyholder priority level d) of the Illinois statutory distribution scheme. This Good Faith Estimate is based upon information available and the circumstances known at the time that it was made. Before relying on this estimate in making any decisions, be aware that the underlying facts and circumstances upon which it is based are subject to change.

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