American Independent Business Alliance (AIBA)
|American Independent Business Alliance (AIBA)|
||National Independent Business Alliance (NIBA)|
||Pennsylvania Independent Business Alliance (PIBA)|
|Date of Liquidation:
||February 15, 1990|
||February 15, 1991|
|States Where Licensed:
|Type of Business Sold:
||Accident & Health|
AIBA was ordered liquidated by the Commonwealth Court of Pennsylvania for operating as an insurance entity without benefit of a license. All coverage ceased on or before June 30, 1989.
A ten percent distribution was made to all class "b" claimants for policy benefit claims on March 16, 1992.
A final Distribution and Discharge Notice was forwarded to all claimants on May 12, 2000.
On October 17, 2000, the Liquidator mailed the second and final distribution checks. Priority level "a" claims were paid at 100 percent. Priority level "b" claims were paid at 50.8 percent. No distributions were made to those policyholders that received a 50 percent payment on their claims prior to the liquidation.