Americas Insurance Company Placed Into Receivership
Frequently Asked Questions
On January 14, 2022, Americas Insurance Company (AIC) was placed into Receivership by the 19th Judicial District Court. Billy Bostick has been appointed as Receiver for the Estate of AIC.
The Louisiana Insurance Guaranty Association (LIGA) is a private association of insurance companies established by Louisiana law to provide certain benefits to the policyholders and claimants of insolvent insurers. The Receiver is working with LIGA to administer all claims and make payments on valid claims as soon as possible. LIGA has already put personnel in place to accomplish this task. LIGA will be reviewing, assessing and paying valid claims.
1. Is AIC still in business?
Yes. Although AIC was placed in rehabilitation, it is currently continuing to conduct its business as usual subject to the limitations of rehabilitation pursuant to the court Order of Rehabilitation. AIC is currently renewing and endorsing existing policies.
2.What is Rehabilitation?
It is an Order of the court which appoints the Commissioner of Insurance as Rehabilitator and authorizes and directs the Commissioner as Rehabilitator and the Receiver to take possession of the company’s assets and administer them under the Order of Rehabilitation. The Receiver continues to conduct the company’s business and affairs as he may deem appropriate, and to manage the affairs of the company until further order of the Court.
3. Who do I call for problems with my claims?
Please call LIGA at (225) 277-7151 and reference your existing claim number.
4. I previously received a check from AIC for my homeowner’s claim, can I cash it?
Yes. LIGA and the Receiver are working to ensure claims are paid as soon as possible. The Receiver is not immediately closing the claims accounts or bouncing claim checks. However, after a short transition period the accounts will be closed, and any check not honored by the bank will need to be presented to LIGA for re-issuance.
5. My claim was adjusted but I have not received my check.
The Receiver and LIGA are working together to review the adjusted claims and get the checks in the hands of policyholders as soon as possible. You will be notified if additional information about your claim is needed.
6. I do not agree with my adjuster and want someone to take another look at my claim.
Call LIGA at (225) 277-7151 and reference your existing claim number.
7. I need to get my claim adjusted and no adjuster has yet been to my home, or the adjuster did not complete the adjustment of my claim.
LIGA will be handling the adjustment and processing of claims. Please call LIGA at (225) 277-7151. LIGA will engage adjusters and direct them regarding the evaluation and adjustment of claims.
8. How long will all this take?
Regretfully we are unable to put a definitive time limit on when we will get to your claim. LIGA and the Receiver will be doing all they can to ensure that claims are adjusted fairly and quickly.
9. What is the status of my policy?
If your policy was in force as of January 14, 2022, it is still in force and effect at this time provided all premium payments are made when due.
10. Do I have to continue to pay my premiums?
In order for your policy to remain in force, you must continue to pay your premium when due. If you do not pay your premium, your policy will be cancelled.
11. Will I be notified if I have to get a new insurance policy?
Before your policy expires, you will be notified as to whether your policy will be renewed or non-renewed.
12. Where should I send my premiums?
Continue to send your premiums to the same address until such time as you are notified of a new address.
13. Can I cancel my policy?
Yes, you may cancel your policy, but you should make sure that you have other insurance coverage prior to doing so to ensure there is no lapse in coverage.
14. If I cancel my policy, will I get a refund of my premium?
Yes, you will get a refund of unearned premium. The Receiver will calculate the correct amounts owed to you in return premium and provide that calculation to LIGA for payment.