Affirmative Insurance Company ("Affirmative")
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Welcome to the webpage for Affirmative Insurance Company.
On March 24, 2016, Affirmative Insurance Company was ordered into
liquidation. Jennifer Hammer, Director of Insurance of the State of Illinois,
is the statutory and court-affirmed Liquidator.
By Illinois law, the Director may appoint a Special Deputy Receiver to
administer the receivership. The Office of the Special Deputy Receiver has been appointed
to assist in the day-to-day administration of the liquidation proceedings under the direction
of the Director. Here is additional information on Affirmative Insurance Company: |
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| Rehabilitation Date: | September 16, 2015 |
| Liquidation Date: | March 24, 2016 |
| Claims Filing Deadline: | August 28, 2017 |
| Contingent Claims Filing Deadline: | August 28, 2018 |
| Docket Number: | 2015 CH 13718 |
| Click here to view the Affirmative Insurance Company docket and upcoming court dates maintained by the Clerk of the Supervising Court | |
| Related Documents and Links: | |
Financial Statements and Independent Auditors' Report |
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| Latest News: | |
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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 September 16, 2015, an Agreed Order of Rehabilitation was entered against Affirmative Insurance Company ("Affirmative") by the Circuit Court of Cook County, Illinois pursuant to the provisions of Article XIII of the Illinois Insurance Code, 215 ILCS5/187 et. seq. On March 1, 2016, Anne Melissa Dowling, Acting Director of Insurance of the State of Illinois, in her capacity as statutory and court-affirmed Rehabilitator of Affirmative Insurance Company ("AIC") filed AIC’s 2015 Annual Statement, reporting an insolvency in excess of $30 million. A Complaint for Liquidation with a Finding of Insolvency was also filed on March 1 with the Illinois Supervising Court. As a consequence of these filings, the Rehabilitator is required to immediately place a moratorium on further claim payments, including the return of unearned premium. The moratorium went into effect March 1, 2016. Claim checks and other payments that were issued by the Rehabilitator and mailed through February 29, 2016, will continue to be honored by AIC’s banks. Director Dowling expects that it will take approximately two weeks to obtain an Order of Liquidation from the Supervising Court. AIC currently has policies in-force in AL, CA, IL, IN, LA, MO and TX. Upon entry of an Order of Liquidation, AIC’s in-force polices will be immediately cancelled, subject to the provision of thirty days of continuing coverage afforded under each state’s property & casualty guaranty fund act. E.g., 215 ILCS 5/537.2. Additional information concerning AIC can be found by contacting the Office of the Special Deputy Receiver 312-836-9500. On March 17, 2016, a status hearing was held on the Verified Complaint for Liquidation filed against Affirmative. The Court was advised that Affirmative had failed to file an answer to the Complaint and was in default. The Court then entered an order continuing the Complaint for further status and hearing on March 24, 2016. On March 24, 2016, an Order of Liquidation With A Finding of Insolvency was entered against Affirmative Insurance Company (“Affirmative”) by the Circuit Court of Cook County, Illinois pursuant to the provision of Article XIII of the Illinois Insurance Code, 215 ILCS5/187 et. seq. |
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