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Bankers Life & Colorado Bankers Life Insurance Company News

On December 30, 2022, the North Carolina court issued an order to place life insurers Bankers Life Insurance Company and Colorado Bankers Life Insurance Company (Global Bankers) into liquidation. The order becomes effective as of the first month-end occurring on or subsequent to 90 days after the later of:

  1. the entry of the order;
  2. the decision of the North Carolina Court of Appeals affirming the order and further review of the decision is not sought;
  3. an order by the North Carolina Supreme Court denying review of the case; or
  4. a decision of the North Carolina Supreme Court affirming the order.

Information about the companies’ liquidation can be found on the North Carolina Department of Insurance and the companies’ websites:

Once a final court order is issued granting liquidation, the life and health insurance guaranty associations in the states where Bankers Life and Colorado Bankers Life were licensed to do business will be tasked with continuing coverage and paying eligible claims, subject to guaranty association coverage limits and the terms and conditions of coverage.

Contact Information: Policyholders with questions about policies, claims, or related to liquidation should call the numbers below for more information or assistance:

  • Bankers Life Insurance Co. — 833-658-2840
  • Colorado Bankers Life Insurance Co. — 833-658-2841

Notice of Company Applying to Become a Utah Certified Reinsurer

September 28, 2022 — XL Re Europe SE an Ireland insurance company has applied to become a Certified Reinsurer in the State of Utah. If you have any questions or concerns please contact Jay Sueoka with the Utah Insurance Department at 801-957-9253 or by email at no later than October 28, 2022.

Utah PMN Posting

Roofing Scams? “Hail” yes!

Consider these tips so you don’t get blown away by fraud.

Check references, licensing and get competitive estimates. Always make sure you know who you are dealing with and charges are fair.

Be cautious about promises of quick service and stocked materials for savings, especially after major storms. Scammers know what to say in desperate times — avoid promises that sound too good to be true.

Offering to waive deductibles may be illegal. Know your state laws, don’t let a desperate situation turn into a permanent nightmare for you or your family.

Avoid demands for high advance payments for work. Reasonable advance payments are normal, demands for high up-front deposits warn of fraud.

Some contractors will actually cause or try to increase damage. Most are honest, but shady contractors may try to take advantage of the situation.

Read contracts carefully and avoid signing away your rights to your insurance coverage to third parties. You may find yourself in a lawsuit you never authorized. Take the time to look over and understand the contract before signing it. It will be to your advantage to do so.

Report suspected fraud to the Utah Insurance Department at

Description of roofing scams

Roofing Scams? “Hail” Yes!

Workers Comp Fraud Costs More Than $32 Billion Every Year

Don’t Get Stuck Looking for a Quick Buck

An estimated $9 billion of fraud every year stems from claims filed by workers misrepresenting injuries or receiving benefits from the wrong employer.

Scammers get caught through surveillance, social media monitoring, or medical provider records. Don’t try it.

Penny-Pinching Payroll

Employers are the worst fraudsters. An estimated $23 billion in premium fraud is caused by employers’ underhanded tactics, including misclassifying workers and underreporting payroll.

Most states require workers comp insurance for employees. When cheaters duck these responsibilities, honest employers pay higher premiums and employees are denied the treatment and help they deserve.

Fraud investigators and state auditors are watching. Injured employees left without coverage often come forward. If you’re an employer, pay what you owe — it isn’t worth the risk.

Be the Solution, Not the Problem


  • Report suspected fraud to the Utah Insurance Department at
  • Payments offered in cash “under the table” are fraud.
  • If you’re injured and your company doesn’t want you to file a claim, be suspicious.
  • Be honest about your injuries. Fraud is not worth jail and fines. If others are committing fraud, report them.


  • If you suspect a bogus claim, notify your insurance carrier.
  • Look for delays between the alleged injury and the claim filing.
  • Verify medical treatment is actually related to the claimed injury.
  • Be suspicious of statements that conflict with the findings of medical providers and witnesses.

Workers Comp Fraud Costs More Than $32 Billion Every Year