October 6, 2023 Penn Treaty Network America/American Network Insurance Companies (Pennsylvania)

AINIC Placed in Liquidation

American Independent Network Insurance Company (AINIC), a long-term care insurer domiciled in New York, was placed in liquidation by order dated September 26, 2023, by the Supreme Court of New York. AINIC is a wholly owned subsidiary of American Network Insurance Company (Pennsylvania), which itself is a wholly owned subsidiary of Penn Treaty Network America Insurance Company (Pennsylvania). Both Penn Treaty and American Network were placed in liquidation in 2017, but AINIC was not part of those liquidations.

While AINIC was licensed only in New York, policyholders reside in 22 other states. Coverage for all policyholders is expected to be provided by the Life & Health Insurance Company Guaranty Corporation of New York. A letter providing notice of the liquidation to policyholders can be found here. The Penn Treaty/ANIC Task Force will continue to monitor the proceedings in New York. If you have any questions, please contact Mike Heard or Joanna Akiyama.

Task Force Chair - Charles Gullickson;   Staff Contact - Mike Heard

NOLHGA’s Joni Forsythe Promoted to Associate General Counsel

Joni Forsythe, who joined NOLHGA in 1997, has been promoted to Associate General Counsel in recognition of her outstanding work and significant contributions to NOLHGA and the guaranty system. Please join all of us at NOLHGA in congratulating Joni!

  Staff Contact - Sean McKenna