Procedimiento de Liquidación de United Capitol Insurance Company

[LOGO] ESTADO LIBRE ASOCIADO DE PUERTO RICO OFICINA DEL COMISIONADO DE SEGUROS AL CONTESTAR, FAVOR REFERIRSE A: 29 de agosto de 2002 CARTA CIRCULAR NÚM. CA-08-1662-2002 A TODOS LOS CORREDORES DE LÍNEAS EXCEDENTES ASUNTO: PROCEDIMIENTO DE LIQUIDACIÓN DE UNITED CAPITOL INSURANCE COMPANY Estimados señores y señoras: Con fecha 13 de agosto de 2002, el Departamento de Seguros del Estado de Nueva York nos informó que se ha establecido un fideicomiso en el Sun Trust Bank para el beneficio de los asegurados de aquellos estados donde United Capitol Insurance Company hacía negocios como asegurador no autorizado. Se acompaña copia de la notificación para su referencia. Conforme a la notificación, deberán informar al Superintendente de Seguros de Nueva York si el asegurador de referencia emitió pólizas en Puerto Rico y si existen reclamaciones contra dichas pólizas. De existir reclamaciones, deberán proveerles la información que allí se solicita. Cordialmente, Fermín M. Contreras Gómez Comisionado de Seguros Apartado 8330 • San Juan, Puerto Rico 00910-8330 Tel. (787) 722-8686 • Fax (787) 722-4400 www.ocs.gobierno.pr EXCELSIOR Gregory V. Serio Superintendent of Insurance STATE OF NEW YORK INSURANCE DEPARTMENT LIQUIDATION BUREAU 123 William Street New York, NY 10038 - 3889 (212) 341 - 6400 Facsimile (212) 341 - 6263 August 13, 2002 Juan Antonio Garcia Commissioner of Insurance Commonwealth of Puerto Rico Post Office Box 8330 Fernandez Juncos Station Santurce, Puerto Rico 00910-8330 Re: United Capitol Insurance Company Dear Sir/Madam: Please be advised that United Capitol Insurance Company a corporation organized and existing under the laws of Illinois to conduct excess surplus lines insurance in the United States was found to be insolvent by a court of competent jurisdiction in Illinois on November 14, 2001. A trust fund was established with Sun Trust Bank for the benefit of policyholders in those states where United Capitol Insurance Company conducted business as an unauthorized insurer. Further be advised that by an Order of the Supreme Court of the State of New York, effective June 14, 2002, the Superintendent of Insurance was appointed Conservator of the above-named company. A copy of the announcement published in the Journal of Commerce on July 8th, July 15th, 2002 and the New York Times on July 1st and July 8th, 2002 is enclosed for your reference. It is the obligation of the Superintendent of Insurance, as Conservator, to adjudicate the claims of the American policyholders. Kindly research your available records and determine whether United Capitol Insurance Company issued any policies in your state and whether there are any claims against those policies. If there are claims against these policies please provide me with the following: 1. a listing of the policyholders, which includes the claimant's name and address, amount claimed and reserved and policy and claim, numbers. 2. The claim files relevant to these listings. Thank you in advance for your prompt and expeditious handling of this request. Yours truly, Nicholas L. Cremonese Nicholas L. Cremonese Assistant Manager Creditor/Ancillary Operations C: F.G. Bliss J.M. Bazemore