Far West Insurance Company, in Liquidation

HOW TO FILE A PROOF OF CLAIM
Frequently Asked Questions

Question: Where does a Claimant obtain the Proof of Claim (POC) form?

Answer: The Proof of Claim (POC) forms were forwarded to all persons with known claims or reasonably expected to have claims against Far West Insurance Company. Proof of Claim (POC) forms can be requested from Far West (see “How to Reach Us” on the Home page). Note that you cannot obtain the Proof of Claim form from the offices of the Nebraska Director of Insurance.

Question: If a Claimant completes and submits a Proof of Claim, does this mean the claim is approved?

Answer: Not necessarily, because the Liquidator in conjunction with Far West’s claims department will evaluate the merits of the claim and damages suffered by the claimant. The Liquidator will then approve the claim in full, deny the claim in full, or develop an independent quantification of the loss.

Question: Does the POC process apply to property and casualty claims?

Answer: Yes. You will need to complete a POC form. Far West will then be responsible for forwarding the information to the State Guaranty Fund Association.

Question: Does the POC process apply to bail claims?

Answer: Yes. You will need to complete a Far West POC form (Bail POC Form). All persons reasonably expected to present claims will be provided a POC form. Claims will be subject to adjudication by the Liquidator. The Bail POC form is used for both bail bonds and immigration bonds. The Far West Proof of Claim forms are available by contacting your agent directly or the Far West Court Division (800-423-2245).

Question: The claims bar date is past, can I still file a POC?

Answer: Yes. Your POC will be considered a late claim and will have a lower priority class as far as distribution. If you believe that your POC should be considered a timely claim with a high priority class you may include a letter stating the reasons you believe your claim should be considered timely and we will examine it. This does not mean that the priority class of your POC will be changed, but it is the only way to try to get it changed.

Question: When will distribution of the Far West estate occur?

Answer: The liquidation process is long and complicated. It is currently unknown when the liquidation will be concluded. If it is ultimately determined there will be a distribution to your creditor class, you will be notified.