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Questions & Answers > Wisconsin Office of the Commissioner of Insurance (OCI) > How is OCI suited to handle such a complicated endeavor?

The following questions and answers are provided to the general public for informational purposes only. They are not legal documents and do not bind the Segregated Account of Ambac Assurance Corporation, the Office of the Commissioner of Insurance, or the Rehabilitator to any position or interpretation of the rehabilitation court's orders in these proceedings, now or in the future. Interested parties should review the court documents available on this site and consult their own legal counsel with any questions they may have regarding any effect this rehabilitation proceeding may have on their legal rights and obligations.

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The OCI has long played a leading role among state insurance commissioners at the National Association of Insurance Commissioners (NAIC), especially in matters dealing with rehabilitation of insurance companies.

Wisconsin has a long history of successful insurance regulation and has rehabilitated and restructured a number of insurance companies over the decades including, for example, the mid-1980s restructuring of Mortgage Guarantee Insurance (now MGIC) and Northwestern National Insurance Company.

OCI has successfully managed liquidations of insurance companies to pay all policyholders in full and return positive value to stockholders.

OCI has an experienced team of analysts and regulators with a deep understanding of the insurance industry and a strong tradition of protecting the interests of policyholders, even in the most challenging of situations, by emphasizing creative and collaborative approaches.

OCI has been closely monitoring AAC for more than two years and has called on expert financial and legal advice where needed. Rehabilitation is an unusual action. Previous rehabilitations have involved companies far smaller than the AAC Segregated Account. But OCI has done its homework and it’s prepared.

Last updated on March 25, 2010 by Ambac Policyholders Administrator