DISB Consumer Alert
DISB Urges District Residents with North Carolina Mutual Life Insurance Company (“NC Mutual”) Policies to Continue to Pay their Policy Premiums in Full and on Time
The North Carolina Mutual Life Insurance Company (“NC Mutual”) was placed under an order of liquidation with a finding of insolvency on October 31, 2022. The District of Columbia Life and Health Insurance Guaranty Association (“DCGuaranty Association”) will provide coverage for all District of Columbia policyholders, subject to applicable statutory coverage limitations and conditions.
The DC Department of Insurance, Securities and Banking (DISB) urges DC policyholders to continue paying their policy premiums directly to NC Mutual, in full and on time, in order to maintain eligibility for payment of covered claims by the Guaranty Association.
In the event of a covered loss under a NC Mutual policy, policyholders do not need to file a proof of claim with the DC Guaranty Association . Policyholders should continue to submit their claims directly to NC Mutual.
If you have any questions, please contact NC Mutual’s customer service at (800) 626-1899 or (919) 682-9201.
Please visit our Frequently Asked Questions (FAQ) on this topic for more information[BA(1] .
DISB Mission
Our mission is three-fold: (1) cultivate a regulatory environment that protects consumers and attracts and retains financial services firms to the District; (2) empower and educate residents and (3) support the development and expansion of business.