The ELIC Holdback Trust is a grantor trust established as part of the ELIC Plan of Rehabilitation. The Trust issued checks to ELIC Opt In (Aurora) policyholders following the final approval of the Plan of Rehabilitation.
In preparation for closing the ELIC Holdback Trust, all outstanding checks have been escheated as of January 15, 2009. This is comprised of 2,463 uncashed checks totaling $1,090,535.40. In accordance with California Code of Civil Procedures Section 1517, the funds have been transferred to the State of California, Department of Insurance to be deposited in the Insurance Fund as provided in Section 12937 of the Insurance Code.
These funds will remain available in perpetuity for those policyholders for which they were intended. The unclaimed property division of each state has been provided the information to make available for their residents, and to direct them to the following location in order to claim these funds.
Any person wishing to file a claim for these funds should contact the State of California, Department of Insurance, Administration & Licensing Services Branch, Accounting Service Bureau, 300 Capitol Mall, Suite 1400, Sacramento, CA 95814. Contact: Bob Olson, (916) 492-3237, OlsonB@insurance.ca.gov, or Frank Carroll, (916) 492-3224, CarrollF@insurance.ca.gov