This notice provides information about Go Insurance Company, aka Peachtree Insurance Company (Go) as of March 11, 2024, including answers to frequently asked questions. This information is not legal advice. If you need legal advice, contact an attorney.
For the most current information, visit https://okaro.org/goi/.
Go was a property and casualty insurance company located in Oklahoma. On March 8, 2024, the District Court of Oklahoma County, Oklahoma (“the Court”) in case number CJ-2023-6377, entered an order placing Go into liquidation (Liquidation Order).
1. What is receivership and liquidation?
Receivership is like a bankruptcy; however, insurance companies cannot declare bankruptcy. They are regulated by the states and not by the federal government. When it is determined that an insurance company may not be able to pay its claimants and its creditors with the assets owned by the company, a court will order the company into receivership for rehabilitation or liquidation and appoint a Rehabilitator or Receiver for the protection of the claimants and policyholders.
On December 19, 2023, the District Court of Oklahoma County, Oklahoma placed Go in receivership for rehabilitation. Under that order, the Court appointed Glen Mulready, Commissioner of the Oklahoma Insurance Department, as Receiver and Donna Wilson as Assistant Receiver. This receivership action was necessary to protect Go’s policyholders.
On March 8, 2024, the District Court of Oklahoma County, Oklahoma, entered an order placing Go in liquidation in case number CJ-2023-6377.
2. Is Go still in business?
No. A Receiver was appointed to take control of Go. Go will be liquidated because it does not have enough funds to stay in business as it was declared statutorily insolvent.
Policies
3. Are Go policies still in effect?
The Liquidation Order canceled all insurance policies issued by Go at 12:01 a.m. on April 8, 2024. Policies that expired, were terminated, or were canceled before 12:01 a.m. on April 8, 2024, remain canceled as of the earlier date.
4. Should I get an insurance policy with another company?
Yes. Your agent can advise you about your options.
5. Will I get a refund for premium paid for the period after the policy is canceled?
The premium paid for the period of time after the policy is canceled is "unearned premium." The guaranty association is responsible for paying claims for unearned premium, subject to limits and other exclusions. The guaranty association will receive notice of your unearned premium.
For more information, visit the Texas Property and Casualty Insurance Guaranty Association (TPCIGA) website at www.tpciga.org.
Claims
6. How will claims against Go be paid?
The TPCIGA pays "covered claims" under policies issued to Texas residents, subject to limits and other exclusions. You can find information about TPCIGA at www.tpciga.org.
7. What happens if I file a loss claim with Go?
The Oklahoma Receiver is transferring information to TPCIGA so it can process Texas claims. TPCIGA will send notices to persons who have open claims on file with Go after it receives the claim files. It may take some time before TPCIGA receives the information needed to contact you.
8. How do I report a new loss claim or check the status of an existing claim?
Please contact the Oklahoma Receivership Office using the contact information below to check the status of an existing claim and/or to file a new claim.
Oklahoma Receivership Office
- By phone at 405-947-0022 or FAX at 405-947-0046
- By email at mail@okaro.org
- At the Oklahoma Receivership Office website: https://okaro.org/
- By mail at:
Oklahoma Receivership Office, Inc.
3613 NW 56th St, Suite 330
Oklahoma City, OK 73112
9. Why did I receive a Proof of Claim form?
The Oklahoma Receiver will mail Proof of Claim forms to Go’s policyholders and to persons who may have claims against Go policyholders.
10. Do I need to file a Proof of Claim form with the Oklahoma Receiver?
If you have a claim against Go that is not fully covered by TPCIGA, such as a loss claim exceeding $300,000 or an unearned premium claim exceeding $25,000, you can file a Proof of Claim with the Oklahoma Receiver. You will be receiving an official letter with a Notice of Deadline to File Claims against the receivership estate.
A person who files a Proof of Claim for a policy claim that is approved by the Oklahoma Receiver might be eligible to receive a distribution on the claim, if funds are available from Go.
You do not need to file a Proof of Claim with the Oklahoma Receiver to make a claim against TPCIGA. If you filed a claim with Go, or paid unearned premium, TPCIGA will have notice of your claim.
Contact Information
11. How do I contact the Texas Property and Casualty Insurance Guaranty Association?
- Phone: 512-345-9335, or toll-free 800-856-0298
- Fax: 512-345-9341
- Email: info@tpciga.org
- Mailing address: TPCIGA, 9120 Burnet Road, Austin, TX 78758
12. How do I contact the Oklahoma Receivership Office?
You may contact the Oklahoma Receivership Office at one of the following:
- By phone at 405-947-0022 or FAX at 405-947-0046
- By email at mail@okaro.org
- At the Oklahoma Receivership Office website: https://okaro.org/
- By mail at:
Oklahoma Receivership Office, Inc.
3613 NW 56th St, Suite 330
Oklahoma City, OK 73112
Answers to other frequently asked questions, along with documents related to the Receivership, may be found at the Oklahoma Receivership Office website: https://okaro.org/