Utah Insurance Commissioner Jon Pike, acting as liquidator of Arches Mutual Insurance Co. through his special deputy liquidator Stillman Consulting Services LLC, announced on Friday that checks are being sent to Arches’ medical providers for 100% of their approved claim amounts.
The company was the state’s nonprofit insurance co-op. It was dissolved in 2016, leaving Utah hospitals waiting on millions in outstanding claims.
In all, 1,997 checks are being cut to disburse $25 million to medical providers.
“This is great news for medical providers who have had outstanding claims with Arches for the past six years,” Pike said in a statement. “Litigation with the federal government has taken a long time, and I am pleased that we’re finally able to make this distribution.”
Further payments to other claimants are forthcoming, pending verification and court approval of their claim amounts.
More information about the Arches liquidation is available at on the website.
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: Deepfake Fraud Is On the Rise. Here’s How Insurers Can Respond 
Global Tech Outage Disrupts Industries, Highlights Online Risks 
Beryl’s Remnants Spawned 4 Indiana Tornadoes, Including an EF-3: NWS 
With American Mobile Cancellations, Florida Mobile Home Market Has ‘Fallen Apart’ 
