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    Discharged Insurance Company

    PIC Insurance Group Inc.

    Liquidation Documents:

    Resources:

    Date of Liquidation:January 21, 1998
    Filing Deadline:January 21, 1999
    States Where Licensed:Pennsylvania
    Type of Business Sold:Medical Malpractice

    PIC voluntarily "nonrenewed" all inforce policies on December 1, 1996. All other policies were cancelled on the normal expiration date. If you have an outstanding or newly reported claim, you may be entitled to the protection of the Pennsylvania Property & Casualty Insurance Guaranty Association (PPCIGA). New claims should be reported directly to the following address:

     PPCIGA
    1620 Suburban Station Bldg.
    1617 JFK Blvd.
    Philadelphia, PA 19103
    Telephone No.: (215) 568-1007

    For further information regarding a specific claim, email a status request or call Liquidation Claims at (717) 787-7823. ​

     

    Estimated Net Assets Available and Estimated Liabilities - As of 12/31/10
    Estimated Net Assets Available
    Includes early access distributions to Guaranty
    Associationsof $38,553,920
    		$54,573,104
    Estimated Liabilities
    Priority Class See Footnote 1
    A16,153,440
    Less:
    Liquidation Expenses Paid
    		(10,690,128)
    B221,596,398
    C
    D
    E390,815
    F
    G87,252
    H
    I
    Known but unevaluated claims
    Total Estimated Remaining Unpaid Liabilities$
    227,537,777
    Estimated Surplus (Deficit)$(172,964,673)


    The Financial Statement Disclosure is an integral part of this statement. It is necessary to read the disclosure to fully understand the statements.

    Footnotes:
    1 Priority Classes
    The order of distribution of claims from the insurer's estate is set forth in detail in Article V of the Insurance Department Act of 1921 at 40 P.S. 22144. Briefly the classes are:
    A Administrative expenses
    B Claims for policy benefits
    C Federal government claims
    D Certain employee claims
    E General creditor claims
    F Stateand local government claims
    G Late filed claims
    H Surplus or contribution note claims
    I Shareholder/owner claims.
    2 Priority Class A - Administrative Expenses
    Administrative expenses include both the Guaranty Associations expenses related to administering the claims of the companies in liquidation and the Liquidators expenses. As shown, the Liquidators expenses have been bracketed to indicate they have been paid and the net assets available were reduced by that amount. The net difference in this priority class, if any, represents administrative expenses incurred by the Guaranty Associations.