Colorado Bankers (CB Life)...

[ccwpc]

no.

I am saying some states Guaranty Associations have recently sent the assessment bills to the good insurance carriers so those carriers can send money to fund the insured amounts. Only way exceeding amounts will be paid is if follow up lawsuits find any leftover money of CBL assets after debts & lawyers are paid

I didn't think so. My "Same boat. I feel it's going to be a long and drawn out process." commment was about us excess poliyholders and the process of recovering the excess amounts.

A couple of stories I found today:

Lincoln Memorial University Libraries: Bankruptcy: Bankruptcy Home

Lincoln Memorial University Libraries: Bankruptcy: Bankruptcy Home

library.lmunet.edu

Feds, NC Insurance Mogul Want Grier Wright On $2B Liquidation - Law360 Pulse

Convicted insurance mogul Greg Lindberg and federal prosecutors have come together to ask a North Carolina federal judge to appoint an attorney from Grier Wright Martinez PA to serve as special master for liquidating Lindberg's billions in assets as restitution for his $2 billion fraud scheme.

www.law360.com

 

[Allen Trent]

I didn't think so. My "Same boat. I feel it's going to be a long and drawn out process." commment was about us excess poliyholders and the process of recovering the excess amounts.

A couple of stories I found today:

Lincoln Memorial University Libraries: Bankruptcy: Bankruptcy Home

Lincoln Memorial University Libraries: Bankruptcy: Bankruptcy Home

library.lmunet.edu

Feds, NC Insurance Mogul Want Grier Wright On $2B Liquidation - Law360 Pulse

Convicted insurance mogul Greg Lindberg and federal prosecutors have come together to ask a North Carolina federal judge to appoint an attorney from Grier Wright Martinez PA to serve as special master for liquidating Lindberg's billions in assets as restitution for his $2 billion fraud scheme.

www.law360.com

Not following what you are saying

 

[ccwpc]

Not following what you are saying

I'm saying I think the lawsuit or whatever process we excess policyholders will have to go through to try and recover the amount not covered by the SGA is going to take a long time.

 

[Allen Trent]

I'm saying I think the lawsuit or whatever process we excess policyholders will have to go through to try and recover the amount not covered by the SGA is going to take a long time.

OK, that makes sense. I was confused as you asked me if my comment about an innocent insurance company that recently paid an assessment to the Guaranty Association was going to be part of the exces payments

 

[Dan T]

It would appear the one percent payment has stopped

 

[ProActive]

I was wondering if they would stop the 1% this month......

Also have not received the monthly update.

 

[ccwpc]

On the Release, Subrogation and Assignment form, where it says Payment Amount, do we put in the amount our SGA is paying us or our policy value amount? And do we check Full Surrender? Also, we need to send in our actual original policy and not a copy of it, correct?

 

[hatchee]

Is it possible to get a copy of the policy from CBL or am I SOL if can't find it?

 

[dnmarks55]

On the Release, Subrogation and Assignment form, where it says Payment Amount, do we put in the amount our SGA is paying us? 250,000.01? And do we check Full Surrender? Also, we need to send in our actual original policy and not a copy of it, correct?

They have our original policy and they know exactly how much we are owed. Why are they asking for it? What happens if we mistakenly put a larger number as the payment amount? Will they pay us that amount? No, they won't because they already know what the payment amount is.

 

[ccwpc]

Is it possible to get a copy of the policy from CBL or am I SOL if can't find it?

I don't think you're sol if you can't find it. There's a box to check that says if you've lost or misplaced your policy.