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Questions & Answers > General > What is 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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The Segregated Account was established to segregate certain of AAC liabilities. The Petition for Rehabilitation is discussed below. The Segregated Account holds many of the policies against which there are significant existing claims or the likelihood of significant claims. Policies not allocated to the Segregated Account remain in AAC. Under Wisconsin insurance law, the Segregated Account is treated as a separate insurer from AAC for purposes of rehabilitation. As a result, the rehabilitation of the Segregated Account is not a rehabilitation of AAC.

Last updated on March 24, 2010 by Ambac Policyholders Administrator