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Merced Property & Casualty Co.
Estate Trust Officer: Scott Pearce
Email Address: PearceS@caclo.org
Telephone Number: (415) 676-5013
Liquidation Date: 12/03/2018
POC Final Filing Date: 06/30/2019
Website: https://www.mercedpcins.com
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On November 30, 2018, California Insurance Commissioner Dave Jones filed a petition to place Merced Property and Casualty Company ("Merced") into liquidation. On December 3, 2018, the Superior Court of the State of California, County of Merced is expected to enter an Order Appointing Liquidator, in the case entitled Insurance Commissioner of the State of California v. Merced Property and Casualty Company, Case No. 18CV-04739 ("Liquidation Order"). Pursuant to the Liquidation Order, the California Insurance Commissioner will be appointed as the statutory Liquidator of Merced Property and Casualty Company. The Liquidation Order authorizes and empowers the Commissioner, through his Conservation & Liquidation Office, to liquidate Merced and its assets for the benefit of Merced's claimants, creditors and shareholder, as provided in Sections 1010 through 1062 of the Insurance Code of the State of California. Merced is expected to be found to be statutorily insolvent. This finding of insolvency triggers the California Insurance Guarantee Association to begin paying covered claims to Merced's claimants up to statutory limits.