NOTICE TO ALL POLICYHOLDERS, CLAIMANTS, CREDITORS, SHAREHOLDERS, AND ALL OTHER PERSONS OR ENTITIES INTERESTED IN CASTLEPOINT NATIONAL INSURANCE COMPANY
NOTICE IS HEREBY GIVEN that on March 30, 2017, the Superior Court of the City and County of San Francisco entered an Order Appointing Liquidator, in the case entitled Insurance Commissioner of the State of California v. CastlePoint National Insurance Company, Case No. CPF-16-515183 ("Liquidation Order"). The effective date of the liquidation order is April 1, 2017. Pursuant to the Liquidation Order, the California Insurance Commissioner has been appointed as the statutory Liquidator of CastlePoint National Insurance Company ("CastlePoint"). The Liquidation Order authorizes and empowers the Commissioner, through his Conservation & Liquidation Office, to liquidate CastlePoint and its assets for the benefit of CastlePoint's claimants, creditors and shareholder, as provided in Sections 1010 through 1062 of the Insurance Code of the State of California. CastlePoint was found to be statutorily insolvent. This finding of insolvency triggers State Guaranty Funds, in all states in which CastlePoint was authorized to write insurance, to begin paying covered claims to CastlePoint's claimants up to statutory limits. A listing of State Guaranty Funds with contact information can be found at www.caclo.org/CastlePoint.
The Liquidation will not cause any disruption or delay in the delivery of workers' compensation indemnity and pharmacy benefits to injured workers covered under CastlePoint policies. The Liquidator has made arrangements to prefund approximately two months of workers' compensation indemnity and pharmacy benefits while the claim files are being transferred to the appropriate state guaranty Funds.
CastlePoint National Insurance Company is the successor by merger with the following companies prior to Conservation:
Tower Insurance Company of New York
Tower National Insurance Company
Hermitage Insurance Company
CastlePoint Florida Insurance Company
North East Insurance Company
Massachusetts Homeland Insurance Company
Preserver Insurance Company
York Insurance Company of Maine
CastlePoint Insurance Company
A copy of the Liquidation Order can be found on the Conservation & Liquidation Office website at: www.caclo.org. A set of questions and answers concerning the liquidation of CastlePoint can be found on the same website. Additional information about CastlePoint can be found on the Company's website at: www.twrgrp.com or contact CastlePoint at 877-813-8531.
Date: April 1, 2017
Insurance Commissioner of the
State of California as Liquidator of
CastlePoint National Insurance Company
David E. Wilson
Special Deputy Insurance Commissioner