American Protectors Insurance Company (API) was a life and annuity insurance company incorporated in Utah in the 1950s. During the 1980s, API began writing individual health insurance policies. API also underwrote the group life and health insurance for United Businessmen's Insurance Trust
In 1990, the Utah Insurance Commissioner petitioned the court to place API into a liquidation proceeding. The petition was granted on September 18, 1990. The Utah Insurance Commissioner was appointed Liquidator and Rheta Beach was appointed Special Deputy Liquidator.
The Liquidator marshaled assets, coordinated with insurance guaranty associations and adjudicated claims pursuant to liquidation statutes. Distributions to policyholders and insurance guaranty associations were made in 1996. Since there were not enough funds to pay policyholders 100 per cent of their claims, no distributions were made to general creditors or shareholders. The estate of API is in the final phases of closure and should be completed in 2001.
The American Protectors estate was closed by order of the court on October 25, 2004. Inquiries relating to American Protectors Insurance Company policies or other questions should be directed to:
Utah Insurance Receivers Office
215 South State Street, Ste. 300, Salt Lake City, UT
84111
T: (801) 595-8222; F: (801) 595-7004
