Municipal Insurance Company of America
Estate Closed
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Welcome to the webpage for
Municipal Insurance Company of America. On October 24, 2007, Municipal Insurance Company of America was ordered into
liquidation, and the Director of Insurance was affirmed as Receiver. By Illinois
law, the Director may appoint a Special Deputy Receiver to administer
the receivership. By power of attorney, Patrick D. Hughes is the
Special Deputy Receiver to Director of Insurance Andrew Boron, and the Office of the Special Deputy Receiver
handles the day-to-day administration of the liquidation proceedings
under the direction of the Special Deputy, subject to the ultimate
authority of the Director and to court supervision. Here is
additional information on Municipal Insurance Company of America: |
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| Liquidation Date: | October 24, 2007 |
| Claims Filing Deadline: | October 24, 2008 |
| Contingent Claims Filing Deadline: | N/A |
| Estate Closed: | October 22, 2009 |
| Docket Number: | 07 CH 30405 |
| Related Documents: | |
Financial Statements and Independent Auditors' Report |
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| Historical Data: | |
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MICA, an Illinois domestic life, accident and health insurance company was placed under an Agreed Order of Liquidation with a Finding of Insolvency on October 24, 2007, by order of the Circuit Court of Cook County. MICA was located in Arlington Heights, IL. It was licensed to do business in Illinois and Indiana. However, substantially all of its existing business was in Illinois. MICA wrote primarily small group life, accident and health insurance. A claim filing deadline of October 24, 2008 was established by the liquidation court. Early access distributions of $6,500,000 have been made to the Illinois and Indiana Guaranty Funds for administrative expenses and claims benefits. On October 22, 2009, the Supervisory Court entered and order approving the Liquidator's application for a prorated final distribution on timely filed claims allowed at level (d) of the statutory distribution schedule in the amount of 70.0412%. The Court also approved the Liquidator's petition to dissolve Municipal's corporate charter and terminated the liquidation proceedings. Last updated October 2010 |
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