Boron has been serving as statutory rehabilitator of the companies since July of
2012."Liquidation was the next step in this process," Boron said. "Department
of Insurance staff has worked diligently during this transition with interest to
the companies' creditors and customers."
The court also entered an order granting his motion for substantive
consolidation of the liabilities and assets of the liquidation estates of
Lumbermens, American Manufacturers and American Motorists. This order will allow
for the equitable distribution of assets on the claims arising in the
liquidation proceedings of these three companies.
![](http://archives.lincolndailynews.com/2013/May/13/images/ads/current/humanesociety_sda022411.png)
The liquidation orders have triggered the obligations of the state insurance
guaranty associations to begin paying covered claims obligations of the
companies. In preparation for the liquidation of the companies, Boron has been
working with the National Organization of Life and Health Guaranty Associations
and the National Conference of Insurance Guaranty Funds to plan the orderly
transition of claim administration responsibilities to the state insurance
guaranty associations.
Assisting Boron in the administration of the liquidations is the Office of
the Special Deputy Receiver, 222 Merchandise Mart Plaza, Suite 1450, Chicago, IL
60654.
[to top of second column] |
![](../images/ads/current/demay_inv-lda081412.png)
Lumbermens, a mutual property and casualty insurer organized in
1912, held licenses in 49 states and the District of Columbia.
American Manufacturers, a mutual property and casualty insurer
organized in 1837, held licenses in 49 states and the District of
Columbia. American Manufacturers, a member of LMG, was organized in
1926 and held licenses in 49 states. Lumbermens, American
Manufacturers and American Motorists commenced a voluntary runoff in
2003 and have been operating under a runoff plan filed with and
approved by Department of Insurance in 2004.
A copy of the liquidation orders is available at
www.osdchi.com or by calling
847-320-2711.
[Text from
Illinois Department of
Insurance
file received from
the
Illinois Office of
Communication and Information]
![](http://archives.lincolndailynews.com/2013/May/13/images/ads/current/budget-building-sda.png) |