While state guaranty funds try to pay claims as quickly as possible, payments might be made more slowly than usual if the court system gets involved in the administration of the liquidated company. If you filed a claim prior to your company going bankrupt, your claim should still be paid. Insurance companies experience the pain of bad economic times just as the rest of us do, and some don't make it. Last year, we had just two companies become insolvent. This year's numbers will be inflated because of the insolvencies caused by rogue financier Martin Frankel, who stole millions of dollars from seven Southern insurance companies.
Catastrophes can have a huge impact.
This information is not intended to be a substitute for professional medical advice. You should not use this information to diagnose or treat a health problem or disease without consulting with a qualified healthcare provider. Please consult your healthcare provider with any questions or concerns you may have regarding your condition.