We have been requested by the California Department of Insurance ("Department"), acting in accordance with and pursuant to Section 1765.1 of the California Insurance Code, to advise all Surplus Line brokers and Special Lines Surplus Line brokers that effective February 2I, 1995, unless and until notified by the Department to the contrary, the above insurer should not be employed for placements of California business. No further new or renewal business may be placed with the company.
This Order is based upon the fact that Simcoe & Erie General Insurance Company no longer intends to do business in the United States surplus lines market. Please refer to the attached for further information.
Edgar S. Clark
Executive Director
ESC/Ijl
Enclosures
STATE. OF CALIFORNIA
DEPARTMENT OF INSURANCE
45 FREMONT Street, 24TH FLOOR
SAN FRANCISCO, CA 94105
CHUCK QUACKENBUSH, Insurance Commissioner
March 16, 1995
The Surplus Line Association of California
388 Market Street, Suite 1150
San Francisco, CA 94111
Subject: Simcoe & Eris General Insurance Company
Order Pursuant to California Insurance Code Section 1765.1
Dear Gentle People:
Please issue a bulletin to your members notifying them that SIMCO I ERIE INSURANCE COMPANY is unacceptable pursuant to CIC Section 1765.1 for placement of new or renewal business. Attached is a copy of the Department's order for your reference. If you have any questions, please contact me.
Very truly yours,
Carol A. Fistler
Staff Counsel III
(415) 904-5674
cc: William W. Palmer
Victoria Sidbury
Edward A. Taylor
March 16, 1995
Mr. Edward A. Taylor Wilson, Elser, Moskowitz, Edelman & Dicker
150 East 42nd Street
New York, New York 10017-5639
Subject: Simcoe & Erie General Insurance Company
Order Pursuant to CIC 1765.1
Dear Mr. Taylor:
Pursuant to California Insurance Code Section 1765.1 Simcoe & Erie General Insurance Company is unacceptable for placement of further new or renewal business. This order is based on the attached letter whereby Simcoe & Erie General Insurance Company withdrew from the United States market, writing no new or renewal business as of February 21, 1995.
Very truly yours,
Carol A. Fistler
Staff Counsel III
(415) 904-5674
cc: William W. Palmer, General Counsel
Victoria S. Sidbury, Bureau Chief of Corporate Affairs
Patricia K. Staggs, Bureau Chief of Compliance
Surplus Lines Association
NAIC c/o Maximiliane Moody, IID
February 27, 1-99S
National Association of
Insurance Commissioners
120 West 12th Street, suite 1100
Kansas City, Missouri 64205-292S
Attention; Robert H.R. Eason, MA FCA
Manager, International Insurers Dept.
Re: Simcoe & Erie General Insurance Co.
Dear Mr. Eason:
This firm is privileged to serve as the U.S. representative for Simcoe & Eris General Insurance Company ("Simcoe & Erie") , a Canadian property and casualty insurer, which has written surplus insurance business in various states in the United States. As you are aware, Simcoe & Erie has been approved for listing on the NAIC's IID Quarterly Listing of Approved Alien Non-Admitted Insurers for the past several years.
Please be advised that on February 21, 1995 Simcoe & Erie informed us that the Company is ceasing to write new surplus lines business in the United States. Accordingly, Simcoe & Erie has instructed &v to notify your office and request that its name be removed from the I1D Quarterly Listing of Approved Alien Non Admitted Insurers effective immediately.
Furthermore, in a letter dated February 21, 1995, Simcoe Erie provided to Citibank, N.A., its trustee; notice of termination of its U.S. trust fund in accordance with the Trust Agreement dated December 20, 1969 by and between Simcoe & Erie and Citibank, N. A. Enclosed for y6ur records is a copy of Simcoe A Erie's notification) letter to the trustee.
Additionally, pleads note that we are forwarding notices to each State Insurance Department wherein Simcoe & Eric was an eligible surplus lines insurer in past year, advising that Simcoe & Erie will no longer be writing surplus lines business as of February 21, 1995. Enclosed as Exhibit "A" is a list of those states to which such notices are being forwarded.
We trust that Simcoe & Erie's name will be removed from the IID Quarterly Listing of Approved Alien Non-Admitted insurers as requested. If you require any further information to conclude this matter, please do not hesitate to contact me.
Very truly yours,
WILSON, ELSER, MOSKOWITZ, EDELMAN DICKER
Edward A. Taylor
RAT/am
Enclosure
cc: Simcoe & Erie General Insurance Co.
Attention: Michael J. Mychailyshyn
Corporate Secretary