Welcome to Triad Guaranty Insurance, In Rehabilitation
On December 11, 2012, the Circuit Court of Cook County, Illinois, Chancery Division (“Supervising Court”) entered an Agreed Order of Rehabilitation,
which placed Triad Guaranty Insurance Corporation (“TGIC”) into Rehabilitation and affirmed the Illinois Director of Insurance (“DOI”) as its statutory
rehabilitator, vesting the DOI with possession and control of the rehabilitation estate of TGIC. By virtue of the Agreed Order of Rehabilitation,
Triad Guaranty, Inc. (“TGI”) and its board of directors no longer governs or controls TGIC or its business and affairs. Prior to Rehabilitation TGIC
ceased issuing commitments for new business on July 15, 2008 and entered into voluntary run-off.
The DOI’s Plan of Rehabilitation (“Plan”) was approved by the Supervising Court on October 29, 2013. A copy of the Plan may be found at
http://www.osdchi.com/ProposedPlan.htm. The Plan implements Illinois’ statutory schedule
of priorities for the ratable distribution (i.e payment) of an insolvent insurance company’s assets. Under the Plan policyholders continue to file
claims in the same manner as before. The terms of the Plan direct claims for loss, unearned premium and return of premium to be paid to the insured
at the rate of 75% of the amount determined to be due, and a deferred payment obligation (“DPO”) to be recorded for the remaining 25% of the amount
due. As stated in the Plan, a detailed forecast was prepared that projected financial results through the year 2020.
Triad Guaranty Insurance Corporation, In Rehabilitation
101 South Stratford Road
Winston Salem, NC 27104
336-723-1282 / 800-451-4872