Okla. Insurance Commissioner Kim Holland is encouraging Covenant Home Warranty Corporation customers to contact the Oklahoma Insurance Department if they had a claim before the company’s June 24 suspension. The department estimates there may be more than 2,500 outstanding Covenant claims or unearned premiums.
Holland suspended the license after an investigation into consumer complaints. The suspension has stopped the Tulsa-based company from soliciting or acquiring new business. Covenant, who has provided home warranties for 10 years, has been ordered to return unearned premiums and pay any claims that arose prior to the suspension.
“We want to help these consumers recover any money that may be due to them,” said Holland, “However, we have not yet determined if there are adequate assets to cover outstanding claims.”
Policyholders who need assistance with unfulfilled claims should call the Consumer Assistance Division of the Insurance Department at (405) 521-2991.