American Unified Life & Health Insurance Company
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Estate Closed
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Welcome to the webpage for American Unified
Life & Health Insurance Company. On June 27, 2000, American Unified
Life & Health Insurance Company was ordered into liquidation, and
the Director of Insurance was affirmed as Receiver. By Illinois
law, the Director may appoint a Special Deputy Receiver to administer
the receivership. By power of attorney, Patrick D. Hughes is the
Special Deputy Receiver to Director Michael T. McRaith, and the Office of the Special Deputy Receiver
handles the day-to-day administration of the liquidation proceedings
under the direction of the Special Deputy, subject to the ultimate
authority of the Director and to court supervision. Here is additional information on American Unified
Life & Health Insurance Company: |
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| Liquidation Date: | June 27, 2000 |
| Claim Filing Deadline: | December 27, 2001 |
| Contingent Claim Deadline: | N/A |
| Estate Closed: | December 16, 2009 |
| Docket Number: | 00 CH 01689 |
| Related Documents: | |
Financial Statements and Independent Auditors' Report 2008 |
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| Latest News: | |
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On December 16, 2009, the Supervisor
Court entered an order approving a prorated distribution of estate's
assets, at the rate of 6.1879%, on all claims allowed at level (d) of
the statutory distribution schedule. The court's order also
terminated the liquidation proceedings and closed the estate. See
Receivership Order. |
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| Historical Data: | |
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This domestic life,
accident and health company, along with its affiliate, American Health
Care Providers, Inc., was placed under an Order of Conservation by the
Circuit Court of Cook County, Illinois on February 2, 2000. An agreed
Order of Liquidation with a Finding of Insolvency was entered against
the company on June 27, 2000. American Unified is owned by the First
American Group of Companies. The company commenced business in 1997 and wrote a companion P.P.O. product exclusively for its affiliate, AHCP, and was licensed in Illinois and Indiana. The claim filing deadline was December 27, 2001. Early access distributions totaling $664,891 have been made to the Illinois Life and Health Insurance Guaranty Association for administrative expenses. September 30, 2009:Based upon best estimates and barring any unforeseen circumstances, the Special Deputy Receiver expects to close this estate in the fourth quarter of 2009 or the first quarter of 2010.A final, partial distribution within the range of 4.5% - 6.0% will be made on claims allowed at the policyholder priority level (d) of the Illinois statutory distribution scheme. This good faith estimate is based upon information available and the circumstances known at the time that it was made. Before basing any decisions on this estimate, be aware that the underlying facts and circumstances are subject to change. Consumers covered by the Illinois Life and Health Guaranty Association previously received $2,294,274 in claim payments. Last updated December 2009. |
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