Penn Treaty Network America Insurance Company and American Network Insurance Company are in Liquidation
On March 1, 2017, Penn Treaty and American Network were ordered to begin liquidation. Penn Treaty and American Network provided long-term-care insurance to over 126,000 policyholders in all 50 states and the District of Columbia. The orders were issued after the Pennsylvania Department of Insurance recommended liquidation for both companies.
In order to best manage the liabilities of the guaranty associations and to best facilitate the liquidation, the guaranty associations, through the National Organization of Life and Health Guaranty Associations (“NOLHGA”), have formed a captive insurance company in the District of Columbia (“LTC Re” or “DC Captive”). LTC Re is organized as a nonprofit corporation, is controlled by its GA members, and will reinsure the GAs.
To facilitate a smooth liquidation the National Organization of Life and Health Guaranty contracted for Penn Treaty to administer policies using Penn Treaty’s existing computer systems, policy/claim records, and staff.
If you have questions about the liquidation your policy or a claim you should continue to contact Penn Treaty’s Policyholder Services at 1-800-362-0700. For information about guaranty associations, visit www.nolhga.com.
Read the links below to learn more about the liquidation: