ACA Assurance's remaining assets are ordered liquidated
CONCORD — The New Hampshire Superior Court recently issued an order, approving Insurance Commissioner Roger A. Sevigny’s petition, to convert the existing rehabilitation of ACA Assurance into a liquidation, Sevigny’s office reported Thursday.
During the rehabilitation period, which began in September 2008, ACA’s policies were transferred to more financially secure insurers to protect policyholders, officials said. Sevigny will serve as the liquidator of ACA and employ a special deputy liquidator to liquidate ACA’s remaining assets.
ACA Assurance was a Manchester-based fraternal benefit society established in 1896 for people of French Catholic ancestry. The society had provided insurance benefits to its members, but had discontinued issuing new policies in 2008 when it was placed in court-ordered rehabilitation. During the last decade, the society transferred cultural heirlooms and records to nonprofit groups.
Materials related to the liquidation will be posted on the New Hampshire Insurance Department’s website: nh.gov/insurance.
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