Triad Guaranty Insurance Corporation ("Triad") and Triad Guaranty Assurance Corporation ("TGAC")
Welcome to the webpage for Triad Guaranty Insurance Corporation
and Triad Guaranty Assurance Corporation. On December 11, 2012,
Triad Guaranty Insurance Corporation and Triad Guaranty Assurance
Corporation were 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 Triad Guaranty Insurance Corporation and Triad Guaranty Assurance Corporation:
|Rehabilitation Date:||December 11, 2012|
|Claims Filing Deadline:||N/A|
|Contingent Claims Filing Deadline:||N/A|
|Docket Number:||12 CH 43895|
|Click here to view the Triad and TGIC docket and upcoming court dates maintained by the Clerk of the Supervising Court.|
|Related Documents and Links:|
|Historical Data:||Check the NAIC Global Receivership Information Database ("GRID") for additional data on insurance companies in receivership.|
On December 11, 2012, Triad Guaranty Insurance Company and Triad Guaranty Assurance Corporation were placed into Rehabilitation by the Circuit Court of Cook County, Illinois.
On July 22, 2013, the Rehabilitator filed his Petition for Approval of Plan of Rehabilitation for Triad Guaranty Insurance Corporation, and Memorandum in Support, with the Clerk of the Circuit Court of Cook County, Illinois. A copy of these documents are located on Triad’s Proposed Plan of Rehabilitation link.
On October 29, 2013, the Supervisory Court approved the Rehabilitator’s Plan of Rehabilitation for Triad Guaranty Insurance Corporation (“TGIC”). Under the terms of the Plan of Rehabilitation, claims for loss, unearned premium and return of premium will be paid at the rate of 75% of the amount determined to be due, and a deferred payment obligation (“DPO”) will be recorded for the remaining 25% of the amount due. Outstanding DPOs, which were recorded by TGIC prior to approval of the Plan of Rehabilitation on loss claims that were previously paid at the rate of 60% of the amount due, will receive 37.5% of the deferred amount, in order to equalize those prior claim payments with the new 75% claim payment rate called for under the Plan of Rehabilitation.
On January 9, 2015, the Rehabilitator filed with the Supervisory Court his First Annual Report of Triad Guaranty Insurance Corporation, In Rehabilitation.