Where can you get a list of bankrupt insurance companies?

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You could try A.M. Best, which is an industry rating organization and tracks the performance and status of insurers..

Additionally, if you know where the company did business, you could contact the various departments of insurance (which are state agencies).

There is no bankruptcy process, as such, for insurance companies. Instead, they are placed by the regulatory authority into "rehabilitation" which is a process by which the regulator takes over the company to see if it is financially "fixable". If it is, the rehabilitation process may go on for several years. If the regulator determines that the company cannot be salvaged, it is placed into "liquidation". This involves the sale of assets, among other things. The regulator also attempt to pay claims with available funds of the insurer, but not all policyholders may get what they otherwise may be due under their policies.

Also applicable may be an insurance guaranty fund maintained by the state. It is usually separate from the insurance regulator, and contributes toward the payment of claims of a defunct insurer. However, the claimant has a relatively short period of time to claim against the association.

First answer by Sdresh. Last edit by Anacanapanastan. Contributor trust: 188 [recommend contributorrecommended]. Question popularity: 14 [recommend question].