Legion Indemnity Company
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Welcome to the webpage for
Legion Indemnity Company. On April 9, 2003, Legion Indemnity
Company 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 Legion Indemnity Company: |
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| Liquidation Date: | April 9, 2003 |
| Claims Filing Deadline: | October 11, 2004 |
| Contingent Claims Filing Deadline: | April 10, 2006 |
| Docket Number: | 02 CH 06695 |
| Click here to view the Legion Indemnity Company docket and upcoming court dates maintained by the Clerk of the Supervising Court. | |
| Related Documents and Links: | |
Balance Sheets |
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| Latest News: | |
| On December 28, 2011, the Supervising Court approved a 90% dividend distribution on timely-filed and allowed claims at the policyholder priority level (d), of the Illinois statutory distribution scheme, in the amount of $37,473,049.36. | |
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| Historical Data: | Check the NAIC Global Receivership Information Database ("GRID") for additional data on insurance companies in receivership. |
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On April 3, 2002, an Order of Conservation was entered against Legion Indemnity Company. On April 9, 2003, upon the Director’s Verified Complaint for Liquidation, the Circuit Court of Cook County entered an Order of Liquidation with a Finding of Insolvency against Legion Indemnity Company. The Illinois Property and Casualty Guaranty Fund, as well as the New Jersey Surplus Lines Guaranty Association were triggered for covered claims of residents of their respective states only. In addition, the Illinois Life and Health Guaranty Association was triggered for covered accident and health claims of Illinois residents, as well as certain other states. The company is licensed only in the state of Illinois; however, it operated on a surplus lines or non-admitted basis in the District of Columbia, U.S. Virgin Islands and 49 other jurisdictions. On December 31, 2001, the company reported direct written premium of $89,307,000, and assumed reinsurance premium of $11,500,000. Legion Indemnity was originally incorporated in January 1987 as the Wacker-Randolph Insurance Company. The name was changed to Dearborn Insurance Company in March 1987 and changed to its current name in May 1996. Legion Indemnity is a wholly owned subsidiary of Legion Financial Corporation, which in turn owned by Mutual Group Ltd. of Delaware. The ultimate holding company for all of the insurance operations is Mutual Risk Management, Ltd., a Bermudan corporation. The claim filing deadline was October 11, 2004. The deadline for liquidation of timely-filed contingent claims was April 10, 2006. Early access distributions totaling $11,551,056 have been made to various Guaranty Funds for administrative expenses and claim payments. Last updated January 2012 |
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