November 6, 2006 - Court grants Commissioner's Order Approving Verified Application For Order Authorizing Proposal For Third Early Distribution of Assets to State Insurance Guaranty Associations or Funds. $51M in distribution was sent on November 8, 2006.
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BILL LOCKYER
Attorney General of the State of California
RANDALL P. BORCHERDING
Supervising Deputy Attorney General
DAVID LEW
Deputy Attorney General
State Bar No. 77186
1515 Clay Street, Suite 2000
P.O. Box 70550
Oakland, CA 94612-0550
Telephone: (510) 622-2225
Facsimile: (510) 622-2121
Attorneys for Applicant Insurance Commissioner of
the State of California
SUPERIOR COURT OF CALIFORNIA
COUNTY OF SAN FRANCISCO
INSURANCE COMMISSIONER OF THE STATE
OF CALIFORNIA,
Applicant,
v.
HIH AMERICA COMPENSATION & LIABILITY
INSURANCE COMPANY, a California domiciled
insurance company,
Respondent.
NO. 320047
ORDER
APPROVING VERIFIED
APPLICATION FOR ORDER
AUTHORIZING PROPOSAL
FOR THIRD DISTRIBUTION
OF ASSETS TO STATE
INSURANCE GUARANTY
ASSOCIATIONS OR FUNDS
Date:
November 6, 2006
Time:
9:30 a.m.
Dept:
301
Judge:
Hon. Peter J. Busch
Applicant Insurance Commissioner of the State of California’s verified application for an order authorizing the proposal for third distribution of assets to state insurance guaranty associations or funds, having come before this Court in Department 301 on November 6, 2006, and the Court having considered the motion, no opposition having been filed, and GOOD CAUSE APPEARING, THE COURT MAKES THE FOLLOWING ORDER:
The Commissioner's proposal to distribute assets of the estate of HIH America in the amount of approximately $51,000,000 to various state insurance guaranty associations or funds, as set forth in the Attachment to this Order, is APPROVED.
The Commissioner shall take any and all action necessary to accomplish the purposes of the Order approved herein.
IT IS SO ORDERED.
Dated:
NOV 06 2006
HAROLD KAHN
Judge of the Superior Court
ATTACHMENT TO ORDER
The Commissioner shall distribute and pay each guaranty association or fund the following amount:
1.
Special Fund of Industrial Commission of Arizona
$0
2.
California Insurance Guarantee Association
$46,481,580
3.
Colorado Insurance Guaranty Association
$140,673
4.
Florida Workers' Comp. Ins. Guaranty Assn.
$45,067
5.
Hawaii Insurance Guaranty Association
$226,787
6.
Illinois Insurance Guaranty Fund
$2,526,446
7.
Indiana Insurance Guaranty Association
$120,409
8.
Iowa Insurance Guaranty Association
$750
9.
Kentucky Insurance Guaranty Association
$0
10.
Michigan Property & Casualty Guaranty Assn.
$891,264
11.
Missouri Prop. & Casualty Ins. Guaranty Assn.
$0
12.
Nebraska Property & Liability Ins. Association
$15,832
13.
Nevada Insurance Guaranty Association
$93,337
14.
Oregon Insurance Guaranty Association
$0
15.
Texas Property & Casualty Guaranty Ins. Association
