336-723-1282 or 800-451-4872
Triad Guaranty Insurance Corporation, In Rehabilitation
101 South Stratford Road
Winston Salem, NC 27104
Formed in 1987 to write private mortgage insurance, Triad Guaranty Insurance Corporation “Triad” is a wholly owned subsidiary of Triad Guaranty Inc. Triad ceased issuing commitments for new business on July 15, 2008 and entered into voluntary run-off. Existing certificates will continue to be honored. In run-off Triad will continue to manage existing insurance in-force by paying valid claims, collecting premiums and partnering with customers to develop solutions to keep borrowers in their homes and reduce mortgage related losses.
On December 11, 2012, the Circuit Court of Cook County, Illinois, Chancery Division (“Supervising Court”) entered an Agreed Order of Rehabilitation, which placed Triad Guaranty Insurance Corporation (“TGIC”) into Rehabilitation and affirmed the Illinois Director of Insurance (“DOI”) as its statutory rehabilitator, vesting the DOI with possession and control of the rehabilitation estate of TGIC. By virtue of the Agreed Order of Rehabilitation, Triad Guaranty, Inc. (“TGI”) and its board of directors no longer governs or controls TGIC or its business and affairs.
The DOI’s Plan of Rehabilitation (“Plan”) was approved by the Supervising Court on October 29, 2013. A copy of the Plan may be found at http://www.osdchi.com/ProposedPlan.htm. The Plan implements Illinois’ statutory schedule of priorities for the ratable distribution (i.e payment) of an insolvent insurance company’s assets. Under the Plan policyholders continue to file claims in the same manner as before. The terms of the Plan direct claims for loss, unearned premium and return of premium to be paid to the insured at the rate of 75% of the amount determined to be due, and a deferred payment obligation (“DPO”) to be recorded for the remaining 25% of the amount due. As stated in the Plan, a detailed forecast was prepared that projected financial results through the year 2020.
This contact information and the hyperlink were last verified on 10/16/2021. If this information is incorrect please comment below or use the contact us form to let us know so that we can make changes.