Western General Insurance Liquidation Assistance
Here we can help with your Western General policy liquidation
Below, you will find the phone numbers you can contact regarding your Western General policy. In fact, you may have received a letter from said company about policy liquidation. Let us give you the information you need to have about this. Additionally, we will take care of you sorting things out.
Our trained and licensed team members will be able to guide you through this. If already necessary, they can help you get a policy with the same benefits, price and coverage. Moreover, by no means, we will not allow for you to be uninsured.
You can call us to the number underneath. We will be happy to help.
Or put your info here, we will contact you
Is Western General going out of business in 2021?
Yes, unfortunately, the company could not fulfil their financial obligations. The financial situation was unstable. After a revision performed by California’s Insurance Commissioner, Ricardo Lara, and the liquidation office, a liquidation order was issued.
The liquidation of Western General will be final by the end of the year. Although, if you are insured by this company, you can trust us to get you covered. You can get insured anywhere from Los Angeles to San Francisco.
I received a Western General Liquidation Letter, what is it?
It’s possible that you received a “letter of liquidation” from the insurer. If you are currently covered by this business, this happened.
Unfortunately, your policy will be cancelled, and no renewals will be available. In addition, no new policies will be issued after December 2021. If this is you right now, do not be concerned. We’ll make sure you’re covered.
We will not, under any circumstances, allow you to be uninsured.
In other words, your policy will not be renewed if it expires before or on December 20, 2021. If you have an ongoing policy, it will cancel by September 4th, 2021.
Although your auto insurance policy will be terminated, our representatives can assist you in finding new auto insurance coverage that is just as reasonable as your old one.
What is Western General’s phone number if I need to contact regarding liquidation?
If you want to get in touch regarding your auto insurance coverage, you can call (888) 350-5050. Have your policy number with you. We are going to be happy to help.
It will be possible to help you get a new policy with similar prices and same benefits.
Frequently Asked Questions
What does liquidation mean in insurance?
In essence, “liquidation” is a process of termination of an insurance company upon the order of the Insurance Commissioner and the Superior Court. Basically, the insurance company businesses are terminated. They will have to cancel all insurance policies and cannot offer new policies nor renew existing policies. When a company is in conservation or liquidation, this is called an “estate”.
What happens when an insurance company is liquidated?
The company is declared insolvent, therefore the guaranty association and guaranty fund of the state will take over. They will keep covering the policyholders or transfer them to a different insurance carrier.
Who gets paid first in a liquidation?
The assets are distributed between their creditors. Secured creditors go first. Then, unsecured creditors, this includes employees who have not been paid yet, those that the company owes money to. Lastly, the stockholders.
Can insurance be liquidated?
Referring to your policy, no. The company with whom you have your policy may be going into liquidation. But, the state has a guaranty association that has to provide coverage for people who had policies with companies that go into liquidation. Keep in mind that it is subject to limitations, similarly to the ones your insurance company would have if you made a claim.
How long does a liquidation take?
Actually, there is not a set limit that applies in every situation. From the moment the order is sent to the end of the full liquidation, usually 6 to 24 months. It all depends on the size of the company and what type of liquidation it is.
Is this information true?
Yes, this is meant to inform our customers and others who had a policy with Western General. But, if you question this, you can also read this information on their website. That is the official source, we are here to provide assistance.
Call to make payment Western General Insurance
Above, you have learned the basic information about this situation. So, if you still have monthly payments pending before December 2021, call (888) 350-5050.
You must know that refunds and claims may be delayed.
What happens when an Insurance Company goes into Liquidation?
Similarly, in this case, the company is obligated to announce this to their policyholders. Some things they will have to do include:
- Cancel all policies and announce the date of the cancellation
- Issue refunds
- Close all claims, the state will pay or deny them
These are some examples, but it is not limited to this.
If you need an insurance policy, get a quote with us.
Why is Western General Canceling Policies?
On August 5, 2021, the State of California Superior Court ordered the Western General Auto Insurance Company into liquidation. (Western General Insurance Company WGIC) to liquidate. Subsequently, they can’t sell new policies, nor reinstate existing policies.
As needs be, the liquidation will end and drop any policies. This will affect insured people of Western General on December 2021.
However, to individuals affected by this change, we guarantee you can still have affordable and quality car insurance.
Hence, our authorized specialists can assist you with other choices. Moreover, switch policies, so you are covered.
You can see more about the Western General liquidation here.
Official Documents Obtained from Conservation & Liquidation Office
- 08/16/2021 – Balance Sheet Western General June 30, 2021
- 08/16/2021 – Cash Flow Western General June 30, 2021
- August/16/2021 – Western General June 30, 2021 Income Statement
- 08/05/2021 – Liquidation Order
- 08/05/2021 – Minute Order re Ex Parte for Liquidation
- 08/04/2021 – Declaration of Douglas J. Beteta in Support of Verified Ex Parte Application for Order Appointing Insurance Commissioner as Conservator
- 08/04/2021 – Proposed Liquidation Order
- 08/04/2021 – Verified Application for Order of Liquidation; Verification; Memorandum of Points and Authorities
- 05/26/2021 – Order Appointing Commissioner as Conservator
- 05/25/2021 – Verified Ex Parte Application for Order Appointing Insurance Commissioner as Conservator; Verification; Memorandum of Points and Authorities
- 05/25/2021 – Declaration of Douglas J. Beteta In Support of Verified Ex Parte Application For Order Appointing Insurance Commissioner As Conservator