Skip to Content

Lincoln General Insurance Company

11/05/2015

On November 5, 2015, Lincoln General Insurance Company (“Lincoln General”) was the subject of an Order of Liquidation entered in the Commonwealth Court of Pennsylvania, Case No. 1 LIN 2015. The Order appoints the Insurance Commissioner of the State of Pennsylvania as Statutory Liquidator (“Liquidator”) of Lincoln General and grants the Liquidator full power, possession and control over the assets, business and affairs of the company, including all of the property, contracts, rights of action and books and records.

Policies issued by Lincoln General are canceled on the earliest of the following dates:

• On the 30th day from the date of the Order,
• The date of expiration of the policy coverage,
• The date the policyholder replaces the insurance coverage or otherwise terminates the policy,
• Or, until the Liquidator has effected a transfer of policy obligation pursuant to Section 523(8) of Article V, 40 P.S. §221.23(8).

For the protection of the policyholders, the Order activates the state guaranty associations in the states where Affirmative was licensed to do business.

Deputy Commissioner Joseph DiMemmo oversees the liquidation on behalf of the Liquidator.  General questions about the liquidation procedure may be addressed to the Statutory Liquidator at:

Statutory Liquidator of Lincoln General
Capitol Associates Building
901 N. 7th Street
Harrisburg, PA 17102
(717) 787-7823

More information may be obtained at http://www.insurance.pa.gov/Regulations/LiquidationRehab/Pages/Lincoln-General.aspx

 



news | by Dr. Radut