Benicorp was a small Indiana insurer licensed in 28 states that focused its marketing in the small employer group health business. The primary products were major medical products, which included various deductible, co-insurance, and co-pay levels along with life and drug plan options. The company was placed in rehabilitation on August 9, 2007, and in liquidation on October 5, 2007.
The Indiana Department of Insurance (IDOI) developed a plan under which most group Benicorp policyholders had the opportunity to transfer their coverage from Benicorp under a guaranteed proposal option to UnitedHealthcare prior to liquidation. Any remaining policies not rewritten by UnitedHealthcare or another insurer are being administered by the guaranty associations.
Guaranty association coverage is coordinated on a state-by-state basis, with coverage usually being provided by the association in your state of residence, regardless of where you purchased your policy. Policyholders should contact their state guaranty association with any questions they have about their policies. The drop-down menu below will take you to your state association's Web site, which provides answers to frequently asked questions and contact information.
The liquidator, by court order, becomes the sole owner of the company's assets and administers the estate of the company.
If you are unsure whom to contact with your questions, please e-mail us here, and we will forward your message to the appropriate party.
NAIC Number: 69752
An NAIC number is a five-digit number assigned to every insurance company by the NAIC (National Association of Insurance Commissioners). Because each company has its own unique number, the NAIC number can be used to identify a particular company.
Domiciliary State: Indiana
The domiciliary state is the state in which an insurance company is incorporated or organized.