Financial Statements and Independent Auditors' Report
Notice of Second Claim Filing Deadline
Receivership Petitions and Orders
Statement of Affairs
Statement of Changes in Cash and Invested Assets
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On January 6, 2004, an Agreed Order of Liquidation with a Finding of Insolvency, was entered against Statewide Insurance Company in the Circuit Court of Cook County, Illinois. Statewide’s board of directors consented to the order, which was entered based on the Director’s complaint that Statewide’s policyholder surplus was impaired in an amount in excess of $21 million.

Located in Waukegan, Illinois, Statewide Insurance Company, a wholly-owned subsidiary of Statewide Holding Corporation, was incorporated in 1979. Statewide was licensed in twenty-six states and wrote commercial multiple peril, commercial auto, general liability, umbrella coverage, workers compensation, inland marine and fidelity and surety bond business. The policies were primarily marketed to small general contractors and artisans in the Midwest and Western states.

The claim filing deadline was January 6, 2005. The deadline for liquidating timely-filed contingent claims was January 6, 2006. Early Access distributions totaling $21,170,184 have been made to various Guaranty Funds for administration expenses and claim payments.

On July 27, 2010, the Supervising Court approved the Liquidator's petition to distribute an interim dividend on all timely-filed claims that were previously recommended for allowance by the Liquidator and approved by the Supervising Court at the policyholder priority level (level "d") and the general creditor level (level "g") of the Illinois priority of distribution schedule. The interim dividend was approved in the amount of 100% of the amount of each priority level "d" and "g" claim allowance, and totaled $3,017,090.

On March 1, 2011, the Supervising Court entered an Order establishing a Second Claim-Filing Deadline of March 31, 2014, for the Statewide liquidation estate. The Second Claim-Filing Deadline was established in order to afford Statewide’s policyholders and other claimants an opportunity to participate in a distribution of Statewide’s surplus, or assets existing subsequent to payment in-full on all timely-filed claims previously allowed at priority levels “a” through “g” of the statutory distribution schedule. March 31, 2014, was established in order not to prematurely foreclose Statewide’s policyholders from filing long-tail claims, which may still legally be asserted against policyholders. Previously filed “late claims,” filed after the original claim filing deadline of January 6, 2005, will be deemed by the Liquidator to be timely-filed for purposes of the Second Claim-Filing Deadline. Requests for proof of claim forms may be made either by: (1) writing to Statewide Insurance Company, in Liquidation c/o the Office of the Special Deputy Receiver, located at 222 Merchandise Mart Plaza, Suite 960 Chicago, Illinois 60654; or (2) clicking on the following link Proof of Claim Form Selection. For administrative purposes, a request for a Proof of Claim form should include the following information: your name and address, the claimant’s name (if different), the Statewide Insurance Company policy number, the date of the loss or accident, and, if available to you, the Statewide Insurance Company claim number.

On May 27, 2015 the Supervising Court approved the Liquidator’s recommendation that a one hundred percent (100%) second dividend be declared on all Statewide’s timely filed claims allowed and approved by the Court for distribution at statutory priority level 215 ILCS 5/205(1)(d).

On January 06, 2016, the Supervising Court approved the Liquidator’s recommendation that a one hundred percent (100%) third dividend be declared on all Statewide’s timely filed claims allowed and approved by the Court for distribution at statutory priority level 215 ILCS 5/205(1)(e).