covered by a guaranty association will be handled by Reliance (In Liquidation). Claims which are not covered by a guaranty association in whole or in part become claims against the Reliance estate and will be paid at some time in the future to the extent funds are available to pay. These claims will not be paid for many years.
You are a third party claimant if you have a claim against a Reliance insured which may be covered by the insured’s insurance policy. You may either ile a claim with the Statutory Liquidator or pursue legal action against the insured to attempt to recover on your claim. If you choose to ile a claim with the Liquidator, iling of this claim shall operate as a release of the insured’s liability to you on that cause of action in the amount of applicable policy limits. If coverage is avoided by the Liquidator, this release becomes null and void.
The Commonwealth Court of Pennsylvania has established December 31, 2003, 5:00 p.m. EST, as the deadline for filing claims against Reliance (In Liquidation). If you fail to file a proof of claim form by this date, your claim may not be considered to be timely filed. Failure to file a timely claim may result in denial of your claim or consideration of your claim at a lower priority level. Some guaranty associations have an earlier deadline.