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CANCELLATION OF ALL
POLICIES
By issue of
the Order, pursuant to South Carolina Code of Laws 38-27-370 and,
further, pursuant to the terms of South Carolina Code of Laws 38-27-380,
all policies in effect at the time of issuance of an Order of
Liquidation continue in force only for the lesser of:
(1) thirty
days from the date of entry of the liquidation order (i.e. July 30, 2009
at 12:00 p.m. EDT);
(2) the
expiration of the policy coverage;
(3) the
date when the insured has replaced the insurance coverage with
equivalent insurance with another insurer or otherwise terminated the
policy; or
(4) the
Liquidator has effected a transfer of the policy obligation pursuant to
Item(8) of subsection (a) of section 38-27-400.
We urge you
to attempt to obtain replacement insurance coverage immediately.
Due to the
Order, Translico will no longer defend or pay for the defense of its
insureds and, therefore, any insured in such a situation should make
arrangements to employ independent counsel to defend against any legal
action which would otherwise be covered under a Translico policy.
The
Liquidator will be implementing a claims process and adopting a Proof of
Claim form. All insureds and agents of Translico will be provided a
Proof of Claim form for filing claims once this process has been
implemented. Please keep the Liquidator informed of any address changes.
The bar date (last day to file a timely Proof of Claim) is November 30,
2009.
During the
interim any inquiries may be directed to Claimant Services at 8300 N.
Hayden Road, Suite A-100, Scottsdale, Arizona 85258, telephone number
(480) 596-6992. Additionally, Translico’s website (www.translico.com) is
a source for news regarding the ongoing liquidation.
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