Monday, April 2, 2018

Access Ins. Company Is In Receivership

    As reported in September, 2017, BFW filed a complaint with the Alabama Department of Insurance against Access Ins. Co., an automobile insurer based in Atlanta, GA.  The complaint filing stemmed from the mishandling of vehicle damage claims in Alabama.  While the investigation was inconclusive as to if this mishandling was related to a staffing and/or technology issues within the company, earlier this month insurance regulators placed this automobile insurance carrier into “receivership,” a process that results in the liquidation of the insurance company.  The situation kicked off with an order of impairment dated March 14, 2018 by the Texas Department of Insurance that said Access was an impaired insurer with liabilities greater than its assets. Under the March 13, 2018 liquidation order, all policies not previously expired will be terminated as of April 12, 2018. The Alabama Department of Insurance advised those in Alabama with Access policies to find a new insurance provider and said claims will be paid by the Alabama Guaranty Association.  For more information as to how to file a claim with the Alabama Guaranty Association, please contact us:

Boteler, Finley& Wolfe
www.bfw-lawyers.com

3290 Dauphin Street, Ste. 505
Mobile, AL 36606
251-433-7766