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New York Liquidation Bureau
Maria T. Vullo
Superintendent as Receiver
 
Court Orders:


Contact Person(s):

Eugene Graff

Phone  (212) 341-6424

Email   EGraff@nylb.org

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American Agents Insurance Co.

Estate Profile:
Date of Rehabilitation: None
Date of Liquidation: 02/05/2001
Termination of Policies: 03/07/2001
Proof of Claim Filing Deadline: 06/05/2001
Dividend Distribution: 06/2007 10.00%
06/2013 16.03%
08/2013 00.26%
TOTAL 26.29%
Bar Date: 03/09/2007


Historical Information:

American Agents Insurance Company (AAIC) was incorporated in New York as a Property and Casualty Insurer on July 11, 1996 and commenced business on August 3, 1997. The company was not authorized to transact business in any state other than New York. Authorization was granted under its charter to write Personal Injury/Property Damage Liability and Motor Vehicle/Aircraft Physical Damage.

The Company's place of business was on Broadhollow Road in Melville, New York. The September 30, 2000, quarterly statement filed with the New York State Insurance Department reflected the company was impaired in the amount of $1,176,105, however, the Insurance Department actuaries concluded that the impairment was actually in excess of $8 Million.

The AAIC shareholder, US Agents Holding Corporation, requested that AAIC be placed into voluntary liquidation on December 5, 2000. The Honorable Jane S. Solomon, signed the Order of Liquidation on February 5, 2001.