Receivership

Receivership
Denise Azar Chief Receiver
	The Receivership Division is established in accordance with Section 27-2-50, Code of Alabama, 1975, as amended. The Alabama Commissioner of Insurance appoints the Chief of the Receivership Division (the Receiver). The Receiver's primary responsibility is the protection of policyholders and Alabama's insurance consumers.

When the Commissioner of Insurance institutes delinquency proceedings against any insurer domiciled in Alabama, the proper circuit court having jurisdiction appoints the Chief of the Receivership Division as receiver of the insurer. Typically, these proceedings begin with an Order of Rehabilitation, whereby the Receiver attempts to reorganize the financial affairs of the insurer, during which time the regular insurance operations may or may not be suspended. If it is determined the insurer cannot be rehabilitated, the Receiver will petition the Court for an Order of Liquidation, whereupon the Receiver will suspend all insurance operations that can be stopped and will liquidate the assets of the failed insurer in accordance with the court’s direction.

The Receivership Division's mailing address is:

State of Alabama Department of Insurance
Receivership Division
201 Monroe Street, Suite 1860
Post Office Box 303353
Montgomery, AL 36130-3353

August 29, 2008