American Medical and Life Insurance Company (AMLICO) was a New York domiciled company licensed in 41 states. AMLICO wrote both individual (limited benefit medical, ordinary life and short term disability) and group business (dental, life, accident and sickness and vision).
The company experienced losses in 2013 and soon after began winding down business. By late 2014, the company gave consent to liquidation and a liquidation petition was prepared. Very soon thereafter, a potential purchaser submitted a proposal for acquisition of the company. A Form A was filed with the NYLB, and the proposed purchaser was retained under a management agreement to administer the remaining run-off business. The Form A was never approved, and in September 2016, liquidation was again reconsidered after ongoing efforts to find an assuming carrier failed.
A liquidation petition was filed on November 16, 2016. The order sought cancellation of all policies 180 days after the liquidation date. There are 28 in-force policies remaining. All of these appear to be in New York, with the exception of a single Oregon policy. The liquidation petition was approved on December 28, 2016. The liquidation order provides that all policies terminate as of June 26, 2017, and sets the claims bar date at September 24, 2017.
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.
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NAIC Number: 81418
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: New York
The domiciliary state is the state in which an insurance company is incorporated or organized.
Liquidation Date: December 28, 2016