Oceanus Insurance Company, a RRG
Oceanus Insurance Company, a RRG Placed Into Liquidation
Order Commencing Liquidation Proceedings
Issued September 21, 2017

 

An Order Commencing Liquidation Proceedings & Granting An Injunction & Automatic Stay of Proceedings for Oceanus Insurance Company, a RRG was entered by the Court of Common Pleas, Fifth Judicial Circuit Richland County, South Carolina, on September 21, 2017 - C.A. No. 2017-CP-40-05195.

 

The Petitioner, Raymond G. Farmer, as Director of the South Carolina Department Of Insurance, and his successors in office were appointed Liquidator. Michael J. FitzGibbons of FitzGibbons and Company, Inc. was designated Special Deputy Liquidator. Please see the Notice of Legal Rights and Obligations for important information regarding the liquidation process.


Proof of Claim Process

All persons who may have claims against Oceanus Insurance Company must file a verified original Proof of Claim (POC). The DEADLINE for filing claims is 5:00 p.m. EDT on March 20, 2018.  For more information concerning the Proof of Claim process, please see Proof of Claim Notice and Proof of Claim Form and Instructions.


Cancellation of All Policies

By issue of the Liquidation Order, and pursuant to South Carolina Code of Laws 38-27-370 and 38-27-380, all policies in effect at the time of issuance of an Order of Liquidation continue in force only for the lesser of: (1) thirty days from the date of entry of the liquidation order (10/21/17 at 11:59 p.m., EDT) (2) the expiration of the policy coverage, (3) the date when the insured has replaced the insurance coverage with equivalent insurance in another insurer or otherwise terminated the policy, or (4) the Liquidator has effected a transfer of the policy obligation pursuant to Item (8) of subsection (a) of section 38-27-400. For complete details see Notice to Policyholders & Agents.

 

Due to the Order, Oceanus Insurance Company will no longer defend or pay for the defense of its insureds. Therefore, any insured in such a situation should make arrangements to employ independent counsel to defend against any legal action which would otherwise be covered under an Oceanus policy.

Our Address

Oceanus Insurance Company,a RRG

9821 N. 95th Street, Suite 105

Scottsdale, AZ 85258

Phone: 480-948-4351