OSD Mission Statement
Our mission is to achieve consumer protection through receivership resolution expertise and the execution of a resolution strategy appropriate to the unique circumstances of each troubled company estate, including maximization of asset recovery, fair disposition of claims, and timely delivery of assets to creditors.
OSD Latest News
Public Service Insurance Company (PSIC): On July 15, 2019 the Supervising Court entered an Order Approving Deadlines and Procedures For the Filing of Claims against the assets of the Estate of PSIC. Those persons having claims against the assets of the Estate of PSIC (“Claimants”) have the right to present and file with the Rehabilitator a Proof of Claim Form on or before the Claim Filing Deadline of November 12, 2019 at 4:30 p.m. C.S.T. A copy of the Order can be found here and a proof of claim form can be found here. Please note that if you have a claim arising under and within the coverage of a policy of insurance issued by PSIC (or Paramount Insurance Company) that those liabilities have been channeled out of the Estate to the resumed Public Service Insurance Company. You may contact the resumed Public Service Insurance Company by telephone at (212)591-9300.
American Service Insurance Company (ASIC) and American Country Insurance Company (ACIC): On July 8, 2019, an Agreed Order of Rehabilitation (the “Agreed Order”) was entered against both ASIC and ACIC, by the Circuit Court of Cook County, Illinois. The Agreed Order affirmed Robert H. Muriel, Director of the Illinois Department of Insurance, as the statutory rehabilitator for each of these companies.
Family Health Network Inc. (FHN): On June 19, 2019 the Court entered an Order Approving Deadlines and Procedures For the Filing of Claims against FHN assets. FHN insureds or policyholders (“Claimants”) have the right to present and file with the Liquidator a Proof of Claim Form on or before the Claim Filing Deadline of October 17, 2019 at 4:30 p.m. C.S.T. A copy of the Order can be found here. and a proof of claim form can be found here.
Life Services Network Trust On May 1, 2019, the Supervising Court entered an order closing the Life Services Network Trust Estate and has terminated the Life Services Network Trust rehabilitation proceedings.