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Questions & Answers > General > My policy is in AAC’s General Account. Can it be moved into AAC’s Segregated Account? How will I know if this has happened? How long can policies be moved to the Segregated Account?

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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There will be no further allocation of policies from AAC's General Account to the Segregated Account, with two limited exceptions. First, policies related to credit default swaps of certain financial institutions currently subject to forbearance agreements may be allocated if a forbearance agreement is no longer in full force and effect with respect to a given credit default swap. Second, a specifically identified group of policies related to student loan pools will be assessed and depending on the outcome of the assessment process will either be commuted or restructured, remain in AAC's General Account or be allocated to the Segregated Account. In addition, with the consent of OCI, AAC may correct any clerical errors or oversights in compiling the list of policies allocated to the Segregated Account. Each policyholder will be notified in the event its policy is allocated to the Segregated Account. The information will also be posted to the Segregated Account section.

Last updated on April 5, 2010 by Ambac Policyholders Administrator