1st Auto/WRC Liquidation Order Officially Entered
On January 2nd, 2024, the Liquidation Order for 1st Auto was entered by the Dane County Circuit Court. The vast majority of policies have been moved to another insurer, but there is still a small percentage that remain. Those remaining 1st Auto insureds need to find replacement coverage, as their 1st Auto policy will terminate officially on January 17th, 2024.
Agents with policyholders of 1st Auto should continue to help their insureds find replacement coverage as soon as possible.
Now that the Liquidation Order has been officially entered, agents who still have policies with 1st Auto must provide written notice as soon as practicable to their policyholder of record if all of the following apply:
- You have a record of the address of the policyholder.
- If you have a property interest in the expiration of the policy or have had a copy of the declaration page at any time during the life of the policy.
- You HAVE NOT transferred ownership of the declaration page to another agent.
- A new entity HAS NOT assumed responsibility for the policy at issue.
This written notice must include your name, address, identification of the policy impaired, and the name and address of 1st Auto in Liquidation. In addition, it must be accompanied by a copy of THIS POLICYHOLDER NOTICE.
You must also provide immediate oral notice to the policyholder as well. Be sure to document your phone call to each remaining policyholder.
Resources for Agents:
OCI Notice of Liquidation for Agents – Jan 2, 2024
OCI Notice of Liquidation for Policyholders – Jan 2, 2024
Frequently Asked Questions – Jan 2, 2024