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On April 27, 2011, Atlantic Mutual Insurance Company ("AMIC") and Centennial Insurance Company ("Centennial") were found insolvent and placed into liquidation by the Supreme Court of the State and County of New York.  The New York Liquidation Bureau ("NYLB") will administer the liquidations.  AMIC and Centennial were licensed to do business in Texas, and the Texas Insurance Commissioner has issued an Order of Impairment effective April 27, 2011 for the two companies.  The Texas Property and Casualty Insurance Guaranty Association ("TPCIGA") has assumed handling of claims for certain policy losses and unearned premiums of AMIC and Centennial.


The NYLB will notify policyholders of AMIC and Centennial of the termination of their policies.  Policyholders with in-force policies should immediately contact their insurance agent or broker in order to obtain replacement coverage effective no later than May 27, 2011.  The Texas Department of Insurance website offers an FAQ for consumers regarding policies and coverages.


Policyholders should continue to notify the NYLB of new claims and lawsuits under normal reporting procedures.  Notices may be sent via email to atlanticmutual@nylb.org or to 110 William Street, New York, NY 10038-3901.  The NYLB is arranging for the transfer of loss claims files to TPCIGA for handling.  Policyholders and claimants are requested to forgo contacting TPCIGA until early June, 2011 to allow sufficient time for the file transfer and initial review.  The TPCIGA will be unable to discuss the status of pending claims until the files have been transferred.  

The NYLB website is found at www.nylb.org.  You may also contact the NYLB at 212-341-6400.

Information as of 05/06/2011

Atlantic Mutual Insurance Company (AMIC)

Centennial Insurance Company


Information on this site is not legal advice and is not intended to be a comprehensive statement of the law or of the TPCIGA's policies and procedures.  References to the laws of any jurisdiction are for informational purposes only and are not a substitute for the official version of a statute. TPCIGA makes no warranty as to the accuracy or reliability of the content of this website or other related websites.  

© 2010 by Texas Property and Casualty Insurance Guaranty Association