Fremont Indemnity Company, a California corporation, was found be insolvent and an Order of Liquidation was entered on July 02, 2003 in the Superior Court of the State of California For the County of Los Angeles.
The NCIGA was activated on July 09, 2003 and the initial loss information was nine WC claims with exposure of $654,000.
Fremont has made an early distribution of $251,681 to the IGA which, as of December 31, 2007, has issued payments of $688,000 covering claims, unearned premium, and claim related expenses.
Three WC claims remain open reserved at $1.6 million.
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The insolvency is being handled by the California Conservation and Liquidation Office www.caclo.org\perl
Contact persons at Liquidator's office
Donna Hart at 415 676-2116, hartd@caclo.org
Susie Elkins at 415 676-5078, elkinss@caclo.org
After the receipt of the $218,944.64 special deposit fund, the IGA accessed member companies $1,668,198 as the true exposure of the insolvency was determined to be approximately $2.5 million after receipt of further information.
As of December 31, 2007, three of the 12 WC claims received remain open with reserves of $1.6 million. Payments to date total $688,000.
The bar date for filing with the estate is June 30, 2004 and should a proof of claim should be filed with the CLO at the following address:
Conservation and Liquidation Office PO Box 26899 San Francisco, CA 94126-0899
As of December 31, 2007 the IGA has received Early access of $251,681.