Skip to main content
Find a Lawyer

Pennsylvania Statutes Title 40 P.S. Insurance § 221.37. Filing of claims

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Proof of all claims shall be filed with the liquidator in the form required by section 538  1 on or before the last day for filing specified in the notice required under section 524,  2 except that proofs of claim for cash surrender values or other investment values in life insurance and annuities need not be filed unless the liquidator expressly so requires.

(b) For good cause shown, the liquidator may permit a claimant making a late filing to share in distributions, whether past or future, as if he were not late, to the extent that any such payment will not prejudice the orderly administration of the liquidation. Good cause shall include but shall not be limited to the following:

(1) that existence of claim was not known to the claimant and that he filed his claim as promptly thereafter as reasonably possible after learning of it;

(2) that a transfer to a creditor was avoided under sections 528 through 530,  3 or was voluntarily surrendered under section 531,  4 and that the filing satisfies the conditions of section 531;

(3) that valuation under section 543  5 of security held by a secured creditor shows a deficiency, which is filed within thirty days after the valuation;

(4) that a claim was contingent and became absolute, and was filed as soon as reasonably possible after it became absolute; and

(5) that the claim was the claim of a guaranty association for reimbursement of covered claims paid and/or expenses incurred, subsequent to the last day for filing where such payments were made and expenses incurred as a result of requirements of law.

(c) The liquidator may consider any claim filed late which is not covered by subsection (b), and permit it to receive distributions which are subsequently declared on any claims of the same or lower priority if the payment does not prejudice the orderly administration of the liquidation. The late-filing claimant shall receive, at each distribution, the same percentage of the amount allowed on his claim as is then being paid to other claimants of the same priority plus the same percentage of the amount allowed on his claim as is then being paid to claimants of any lower priority. This shall continue until his claim has been paid in full.

1 40 P.S. § 221.38.
2 40 P.S. § 221.24.
3 40 P.S. §§ 221.28 to 221.30.
4 40 P.S. § 221.31.
5 40 P.S. § 221.43.
Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 221.37. Filing of claims - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-221-37/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard