Amwest Surety Insurance Company, in Liquidation

STATE GUARANTY FUND/ASSOCIATION

Frequently Asked Questions

Question: Does state guaranty fund/association protection exist for certain claims?

Answer: Yes. Auto, Mobile Homeowner, Motorcycle, Surety and Commercial trucking claims have been forwarded to appropriate state guaranty fund/association, if any. Additionally those claims in states listed on the guaranty fund/association tab in this website have been transferred. Generally, to file an unearned or return premium claim against a state guaranty fund/association, you must first file a proof of claim with Amwest Surety Insurance Company. Amwest would then forward a copy to the State Guaranty Fund/Association. Please contact your state guaranty fund if you have a claim and would like to know more about what is covered and requirements for payment.

Question: If I file a claim with the state guaranty fund association and the claim exceeds the coverage provided by the state guaranty fund/ association, will I be able to file a Proof of Claim with Amwest Surety Insurance Company for the difference?

Answer: Depending on the deductible, if any, or limit of coverage imposed by the state guaranty fund/association you may file a Proof of Claim with the Liquidator for the deductible or claim liability in excess of the statutory limit.

Question: How soon will the state guaranty fund/association pay my claim?

Answer: Most non-surety property and casualty loss and unearned premium claims have been adjusted and paid by the state property and casualty insurance guaranty funds/associations (Fund). Surety claims tend to be more complex but we are beginning to see them funded by the Funds. Claimants were advised of the Amwest claim files transfer to the Funds. The good news is once a Fund determines the amount due on a claim, they can pay it.

Question: Why didn’t I receive a payment if the unearned premium was less than $100? Or why is my payment $100 Less than the unearned premium?

Answer: A State Insurance Guaranty Association is making payment to you. They have a statutory $100 Deductible. Therefore. The $100 is deducted before making payment to the premium finance company or you. Please note that the premium finance company has priority over the insured if there is balance owing to the premium finance company. If the unearned premium is below $100, unfortunately, there is no payment.

Question: Will I eventually get my $100 or unearned premium if the balance was below $100?

Answer: It is unknown at this time whether or not there will be any residual funds to provide a pro-rata distribution to those claimants with unearned premium deductible claims and the unearned premium balances below $100 not funded by the respective State Insurance Guaranty Associations.

Question: Do I have to file another Proof of Claim form to obtain my $100 deductible or the unearned premium below $100?

Answer: No. The liquidator is maintaining records of these balances and will notify you if funds are available to make a dividend payment to your creditor class. It is important that you continue to notify the liquidator of address changes for this purpose.

Question: What if I haven’t filed a proof of claim?

Answer: Your claim will not be evaluated unless a proof of claim is filed. If you have not filed a proof of claim, you may still do so, however, it will be considered a late-filed claim with little likelihood of any distribution. If you believe that your claim should be considered timely instead of late, you may send with it a letter stating the reasons you believe it should be considered timely and we will examine it. This does not mean that your proof of claim status will be changed from late, but it is the only way to try to change the status of a late filed proof of claim.

Question: When will we know if we are going to receive any more money?

Answer: The liquidation process is long and complicated. It is currently unknown when the liquidation will be concluded. If it is ultimately determined there will be a distribution to your creditor class, you will be notified.