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Questions & Answers > General > What criteria were used for determining which policies would be allocated 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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Maximization of claims-paying resources and equitable treatment of all policyholders were the primary considerations. Certain books of business with substantial near-term projected loss impairments were allocated to the Segregated Account, along with policies that have certain trigger provisions that could cause increased losses if those policies were not subjected to the injunctive powers of the rehabilitation court. Upon the motion of OCI, the rehabilitation court issued injunctive relief to prevent the exercise of those triggers or the occurrence of events that would cause the realization of or increase in losses.

Last updated on March 27, 2010 by Ambac Policyholders Administrator