N.H. Reports Patriot Health Insurance to be Liquidated

New Hampshire Insurance Commissioner Roger Sevigny announced that Patriot Health Insurance Co. which was placed in rehabilitation on Dec.12, 2007, will be liquidated in a proceeding supervised by the Merrimack County Superior Court.

During the rehabilitation, MVP Health Plans of New Hampshire assumed all of Patriot’s outstanding insurance policies effective as of Jan. 1, 2008. The liquidation of Patriot does not affect healthcare claims incurred on or after Jan. 1, 2008 on policies transferred to MVP.

Generally, the payment of pre-January 1 policy-related claims will be funded by the New Hampshire Life and Health Insurance Guaranty Association. The maximum amount paid by the guaranty association on covered claims is $100,000 per covered person.

Producers, attorneys, vendors, and other general creditors of Patriot will need to file a proof of claim with the liquidator in order to preserve their claim.

Source: N.H. Insurance Department