Red Rock Insurance Company (formerly BancInsure, Inc)
Estate Overview
Case Number CJ-2014-4353
Receivership Date
08/21/2014
Liquidation Date
08/21/2014
Policies Terminated
09/21/2014
Deadline to file Proof of Claim
02/20/2015
Closure Date
To be determined
Assistant Receiver
Donna L. Wilson, CIR-ML
Receivership Counsel
Meyer & Leonard, PLLC
Judge
Honorable Judge Sheila Stinson
Events and Information
07/19/2023 - Seventeenth Report Approved
The Oklahoma County District Court approved the Order Approving the Receiver’s Seventeenth Report on Claims Evaluation and Request for Permission to Temporarily Cease Claims Reporting.
06/29/2023 - Seventeenth Report Filed
The Receiver filed the Receiver’s Seventeenth Report on Claims Evaluation and Request For Permission to Temporarily Cease Claims Reporting.
01/05/2023 - Sixteenth Report Filed
The Receiver filed the Receiver’s Sixteenth Report on Claims Evaluation.
06/21/2022 - Fifteenth Report Filed
The Receiver filed the Receiver’s Fifteenth Report on Claims Evaluation.
02/08/2022 - Appointment of Assistant Receiver
The Receiver filed the Appointment of Assistant Receiver. Through this action, the Receiver terminated Nestor Romero as Assistant Receiver and appointed Donna L. Wilson, CIR-ML.
12/15/2021 - Fourteenth Report Filed
The Receiver filed the Receiver’s Fourteenth Report on Claims Evaluation.
06/22/2021 - Thirteenth Report Filed
The Receiver filed the Receiver’s Thirteenth Report on Claims Evaluation.
03/25/2021 - Twelfth Report Filed
The Receiver filed the Receiver’s Twelfth Report on Claims Evaluation.
07/31/2020 - Eleventh Report Approved
The Oklahoma County District Court approved the Order Approving the Receiver’s Eleventh Report on Claims Evaluation.
06/05/2020 - Deadline Order Approved
The Oklahoma County District Court approved the Order Establishing Deadlines Relating to Receiver’s Eleventh Report on Claims Evaluation and Setting Hearing Date for Receiver’s Eleventh Report.
06/04/2020 - Eleventh Report Filed
The Receiver filed the Receiver’s Eleventh Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
02/07/2020 - Tenth Report Approved
The Oklahoma County District Court approved the Order Approving the Receiver’s Tenth Report on Claims Evaluation.
12/06/2019 - Deadline Order Approved
The Oklahoma County District Court approved the Order Establishing Deadlines Relating to Receiver’s Tenth Report on Claims Evaluation and Setting Hearing Date for Receiver’s Tenth Report.
12/04/2019 - Tenth Report Filed
The Receiver filed the Receiver’s Tenth Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
08/02/2019 - Ninth Report Approved
The Oklahoma County District Court approved the Order Approving the Receiver’s Ninth Report on Claims Evaluation.
06/07/2019 - Deadline Order Approved
The Oklahoma County District Court approved the Order Establishing Deadlines Relating to Receiver’s Ninth Report on Claims Evaluation and Setting Hearing Date for Receiver’s Ninth Report.
06/04/2019 - Ninth Report Filed
The Receiver filed the Receiver’s Ninth Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
02/20/2019 - Eighth Report Approved in Part
The Oklahoma County District Court approved the Order Approving in Part the Receiver’s Eighth Report on Claims Evaluation.
12/28/2018 - Deadline Order Approved
The Oklahoma County District Court approved the Order Establishing Deadlines Relating to Receiver’s Eighth Report on Claims Evaluation and Setting Hearing Date for Receiver’s Eighth Report.
12/20/2018 - Eighth Report Filed
The Receiver filed the Receiver’s Eighth Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
08/17/2018 - Seventh Report Approved in Part
The Oklahoma County District Court approved the Order Approving in Part the Receiver’s Seventh Report on Claims Evaluation.
06/27/2018 - Deadline Order Approved
The Oklahoma County District Court approved the Order Establishing Deadlines Relating to Receiver’s Seventh Report on Claims Evaluation and Setting Hearing Date for Receiver’s Seventh Report.
06/21/2018 - Seventh Report Filed
The Receiver filed the Receiver’s Seventh Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
02/16/2018 - Sixth Report Approved in Part
The Oklahoma County District Court approved the Order Approving in Part Receiver’s Sixth Report on Claims Evaluation.
12/22/2017 - Deadline Order Approved
The Oklahoma County District Court approved the Order Establishing Deadlines Relating to Receiver’s Sixth Report on Claims Evaluation and Setting Hearing Date for Receiver’s Sixth Report.
12/21/2017 - Sixth Report Filed
The Receiver filed the Receiver’s Sixth Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
09/22/2017 - Fifth Report Approved in Part
The Oklahoma County District Court approved the Order Approving in Part Receiver’s Fifth Report on Claims Evaluation.
06/27/2017 - Deadline Order Approved
The Oklahoma County District Court approved the Order Establishing Deadlines Relating to Receiver’s Fifth Report on Claims Evaluation and Setting Hearing Date for Receiver’s Fifth Report.
06/22/2017 - Fifth Report Filed
The Receiver filed the Receiver’s Fifth Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
02/24/2017 - Fourth Report Approved in Part
The Oklahoma County District Court approved the Order Approving in Part Receiver’s Fourth Report on Claims Evaluation.
12/22/2016 - Deadline Order Approved
The Oklahoma County District Court approved the Order Establishing Deadlines Relating to Receiver’s Fourth Report on Claims Evaluation and Setting Hearing Date for Receiver’s Fourth Report.
12/22/2016 - Fourth Report Filed
The Receiver filed the Receiver’s Fourth Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
08/05/2016 - Third Report Approved in Part
The Oklahoma County District Court approved the Order Approving in Part Receiver’s Third Report on Claims Evaluation and Confirming Receiver’s Recommendations.
06/24/2016 - Deadline Order Approved
The Oklahoma County District Court approved the Order Establishing Deadlines Relating to Receiver’s Third Report on Claims Evaluation and Setting Hearing Date for Receiver’s Third Report.
06/22/2016 - Third Report Filed
The Receiver filed the Receiver’s Third Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
03/03/2016 - Second Report Approved in Part
The Oklahoma County District Court approved the Order Approving in Part Receiver’s Second Report on Claims Evaluation and Confirming Receiver’s Recommendations.
12/22/2015 - Second Report Filed
The Receiver filed the Receiver’s Second Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
09/14/2015 - First Report Approved
The Oklahoma County District Court approved the Order Approving Receiver’s First Report on Claims Evaluation and Confirming Receiver’s Recommendations.
06/24/2015 - First Report Supplement Filed
The Receiver filed the Supplement to Receiver’s First Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
06/23/2015 - Deadline Order Approved
The Oklahoma County District Court approved the Order Establishing Deadlines Relating to Receiver’s First Report on Claims Evaluation and Setting Hearing Date for Receiver’s Report.
06/22/2015 - First Report Filed
The Receiver filed the Receiver’s First Report on Claims Evaluation and Request for Confirmation of Receiver’s Recommendations.
04/20/2015 - Claims Filed Report
The Receiver filed the Receiver’s Report of Timely Filed Claims.
10/24/2014 - Combined Application Approved
The Oklahoma County District Court approved the Order Approving Receiver’s Combined Application for Approval of (A) Notice of Liquidation, (B) Form of Proof of Claim and Instructions, (C) Form of Unconditional Assignment and Application for Approval of Receiver’s Claims Reporting and Evaluation Plan.
08/21/2014 - Notice of Liquidation
A copy of the Notice of Liquidation uploaded.
08/21/2014 - Proof of Claim Form
A copy of the Proof of Claim form and Instructions uploaded.
08/21/2014 - Unconditional Assignment Form
A copy of the Unconditional Assignment form and Instructions uploaded.
08/21/2014 - Liquidation Order Approved
The Oklahoma County District Court approved the Order Placing Insurer Into Receivership and Liquidation, Appointing Receiver, and for Permanent Injunction.
08/21/2014 - Amended Order Approved
The Oklahoma County District Court approved the Amended Order Directing Insurer to Show Cause and Allowing Injunctive Relief.
08/01/2014 - Show Cause Order Approved
The Oklahoma County District Court approved the Order Directing Insurer to Show Cause and Allowing Injunctive Relief.
Liquidation Information
On August 1, 2014, the District Court of Oklahoma County, State of Oklahoma entered Order Directing Insurer To Show Cause And Allowing Injunctive Relief in Case No. CJ-2014-4353. The Insurer (Red Rock) was ordered to appear before a hearing set for 10:00 AM on August 21, 2014.
On August 21, 2014, the Oklahoma County District Court entered an Order Placing Insurer into Receivership and Liquidation, Appointing Receiver, and for Permanent Injunction in Case No. CJ-2014-4353.
Pursuant to the Order and in accordance with Title 36 OKLA STAT §2007, all policies of insurance with Red Rock Insurance Company (Red Rock) were terminated and coverage under said policies was cancelled effective no later than Sunday, September 21, 2014 at 12:01 a.m. This order did not extend coverage beyond any previous cancellation date, but did supersede any cancellation or non-renewal effective after September 21, 2014. Also, any policies in a lapse state at the Date of Liquidation were not reinstated.
On October 24, 2014, the Oklahoma County District Court entered an Order Approving Receiver’s Combined Application for Approval of (A) Notice of Liquidation, (B) Form of Proof of Claim and Instructions, (C) Form of Unconditional Assignment and Application for Approval of Receiver’s Claims Reporting and Evaluation Plan.
Policyholders, claimants and creditors having claims against Red Rock Insurance Company should have filed a Proof of Claim form, together with proofs of loss with the Assistant Receiver no later than February 20, 2015. Proof of Claim forms received after February 20, 2015 will lose their statutory priority and may not receive a distribution of assets.
Policies without the potential for “covered claims” as defined by the Oklahoma Property and Casualty Guaranty Association Act or by a similar organization in any other state were cancelled effective as of the Date of Liquidation.
For the protection of policyholders, the Order of Liquidation activated the State Guaranty Funds in the states where Red Rock was licensed to do business. It is believed that most claimants will be protected by their State Guaranty Fund subject to statutory limitations.