Utah Insurance Receivers Office
The Utah Insurance Receivers Office was established in 1996 to assist the Utah Insurance Commissioner, in his capacity as liquidator of Utah insolvent insurance companies, in winding up the affairs of those insolvent companies. Once a Utah insurance company has been found by a Utah court to be insolvent or otherwise hazardous to the public, a deputy liquidator is appointed to take over and administer the affairs of the company.
Notices and Proof Of Claim Filing
Once a company has been placed into a delinquency proceeding, notices are sent to all persons who have had dealings with the insurance company. Notices of the proceedings also include a form to send back to the company identifying any claim that may be outstanding against the company and setting forth rules to assure consideration of that claim. There is a time limit on how long a person has to file a claim.
The person assigned by the insurance commissioner to run the proceedings is called the Special Deputy Liquidator. That person has the responsibility, under the direction of the insurance commissioner as liquidator, to collect all of the company's assets and distribute them to the claimants to the extent that the assets allow. Many policyholders of insolvent companies are protected by state insurance guaranty associations. Those associations are often required by state law to pay policy claims for insolvent companies. Call the deputy liquidator of the company in question to find out if guaranty association protection is available for your claim.
Once assets are marshaled, claims not covered by guaranty associations can be paid according to a priority scheme set out in the Utah Code (see 31A-27-335, Utah Code). Claims are paid pro-rata according to the money available in the estate of the company.
Please click a company name at the top of the page to select a company. Within the company category you will find important information about each receivership including the latest financial information and status reports.
215 South State Street