Centaur Insurance Company
Welcome to the webpage for Centaur Insurance Company.
On September 4, 1987, Centaur Insurance Company was ordered into
rehabilitation. Dana Popish Severinghaus, Acting Director of Insurance of
the State of Illinois, is the statutory and court-affirmed Rehabilitator.
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
rehabilitation proceedings under the direction of the Director. Here is
additional information on Centaur Insurance Company:
|Rehabilitation Date:||September 4, 1987|
|Claim Filing Deadline:||March 30, 2001|
|Contingent Claim Deadline:||October 1, 2001|
|Docket Number:||87 CH 08615|
|Click here to view the Centaur Insurance Company docket and upcoming court dates maintained by the Clerk of the Supervising Court.|
|Related Documents and Links:|
Centaur Status Report: June 15, 2018
|On October 1, 2019, the Supervising Court entered an order authorizing the Rehabilitator to declare and effectuate an eighty-five percent (85%) dividend on claims allowed for distribution at statutory priority level 215 ILCS 5/205(1)(g).|
|Historical Data:||Check the NAIC Global Receivership Information Database ("GRID") for additional data on insurance companies in receivership.|
Centaur Insurance Company, an Illinois domestic property and casualty insurance company, consented to an Agreed Order of Rehabilitation issued by the Circuit Court of Cook County, Illinois on September 4, 1987.
Centaur issued general liability property and casualty lines of business on either a primary or excess basis, and assumed reinsurance. It was licensed in D.C. and all states, except AZ, CT, HI, KS, NH, SD, VT and WY, where it wrote on a surplus line or non-admitted basis.
In accordance with the court approved Plan of Rehabilitation, Revised Plan of Rehabilitation Plan and Second Revised Plan of Rehabilitation, Centaur's direct policy obligations (i.e., priority level "d" and "e" policyholder claims) were paid as they came due, while general creditor obligations were fixed but not paid.
Under the Second Revised Plan of Rehabilitation, a bar date of March 30, 2001 was established by the Supervising Court for the presentation of timely-filed claims, and a deadline of October 1,2001 was established for the liquidation of contingent claims.
The adjudication and payment-in-full of all timely-filed policyholder priority level "d" and "e" claims was completed in January 2011.
$131,143,500 in timely-filed priority level "d" and "e" policyholder claims and defense obligations were discharged throughout the course of the rehabilitation proceedings.
On April 21, 2011, the United States Department of Justice denied the Liquidator's request for a release of priority level "f" claims of the federal government, and of responsibility under the federal super-priority statute, 31 USC §3713, and asserted numerous contingent and unliquidated priority level "f' federal claims related to one hundred and thirteen (113) environmental waste sites. The Rehabilitator is working with the United States Department of Justice and the United States Environmental Protection Agency to develop a plan for bringing these claims to resolution ("Federal Claim Resolution Plan"). If the Federal Claim Resolution Plan necessitates a revision to the Second Revised Plan of Rehabilitation, the Rehabilitator will prepare and submit a revised plan of rehabilitation to the Court for its consideration and approval.
Centaur's timely-filed general creditor priority level "g" claims were fixed and adjudicated during the course of the rehabilitation proceedings in the amount of $103,158,307, net of offsets.