Last Updated: September 25, 2024
Information Regarding the Liquidation of Wisconsin Reinsurance Corporation and 1st Auto & Casualty Insurance Company
WRC NAIC#: 30260
1st Auto NAIC#: 44725
Liquidation Dates
- Liquidation Petition Filed: November 1, 2023
Objection Period Ends: December 5, 2023
Liquidation Order Entered: January 2, 2024
Liquidation Effective Date: January 1, 2024
Bar Date and Due Date of Proof of Claim Forms: July 1, 2024
Authorized Lines of Business
WRC |
1st Auto |
Aircraft | Aircraft |
Automobile | Automobile |
Fire, Inland Marine and Other Property Insurance | Fire, Inland Marine and Other Property Insurance |
Liability and Incidental Medical Expense Insurance (other than automobile) | Liability and Incidental Medical Expense Insurance (other than automobile) |
| Miscellaneous |
| Workers Compensation Insurance |
Licensed States
When Wisconsin Reinsurance Corporation was actively writing business it was licensed or qualified as a reinsurer in Arkansas, Illinois, Indiana, Iowa, Missouri, Montana, North Dakota, South Dakota, and Wisconsin.
When 1st Auto was actively writing business it was licensed in Arkansas, Illinois, Iowa, Missouri, South Dakota, and Wisconsin.
Contact Information
Questions regarding the liquidation can be emailed to
jschrader@noblecon.net, or you may call (800) 939-9473 for WRC, or (800) 261-2886 for 1st Auto.
All completed, signed Proof of Claim Forms and supporting documentation may be submitted by mail or email as follows:
WRC
| 1st Auto
|
Wisconsin Reinsurance Corporation, in Liquidation Attn: Justin Schrader, Special Deputy Liquidator 2810 City View Drive Madison, WI 53718 Fax: (608) 242-4514 Email: wrcproofofclaim@thewrcgroup.com
| 1st Auto & Casualty Insurance Company, in Liquidation Attn: Justin Schrader, Special Deputy Liquidator 2810 City View Drive Madison, WI 53718 Fax: (608) 242-4514 Email: 1stautoproofofclaim@1stauto.com
|
Liquidation Documents
- Petition for Liquidation Notices
- Notice of Liquidation
Court Filings
Financial Statements
Period Ending
|
WRC
|
1st Auto
|
June 30, 2023
|
Quarter 2, 2023
|
Quarter 2, 2023
|
September 30, 2023
|
Quarter 3, 2023
|
Quarter 3, 2023
|
December 31, 2023
| Quarter 4, 2023
| Quarter 4, 2023
|
March 31, 2024
| Quarter 1, 2024
| Quarter 1, 2024
|
Agent Information
Brief History
Wisconsin Reinsurance Corporation (WRC) is a property and casualty reinsurance company whose clients are mutual insurance companies located in Wisconsin, Arkansas, Illinois, Iowa, Missouri, and South Dakota. In Wisconsin, WRC is the reinsurer for 34 of Wisconsin's 44 town mutual insurers.
As part of WRC, 1st Auto & Casualty Insurance Company (1st Auto) offers direct coverage for personal auto, business auto, and personal/farm umbrella.
Many Wisconsin insurers, including WRC, experienced higher-than-expected losses in 2022 as severe storm events damaged property across the state. By the end of that year, WRC and 1st Auto reported that they did not have the financial stability to continue operating and meeting their obligations in the foreseeable future.
In 2023, efforts to find additional capital to stabilize their financial position did not materialize for WRC and 1st Auto. Both have indicated that their financial position has continued to deteriorate.
Due to these developments, the Office of the Commissioner of Insurance determined it was appropriate to take action to protect 1st Auto's policyholders and town mutual insurers who get reinsurance from WRC by controlling the remaining assets of the company through the rehabilitation process.
On May 23, 2023, the Wisconsin Office of the Commissioner of Insurance petitioned to put WRC and 1st Auto into rehabilitation.
For information and filings made during rehabilitation, please see WRC and 1st Auto Rehabilitation.