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Paramount Insurance Company

Frequently Asked Questions



What is the current status of Paramount Insurance Company? (9/19/2018)
What is the status of my policy with Paramount Insurance Company? (9/19/2018)
Should I continue to pay the premiums for Paramount Insurance Company policy? (9/19/2018)
Is Paramount Insurance Company paying claims? (9/19/2018)
Can I file a new claim against Paramount Insurance Company? (9/19/2018)
What is the deadline for filing a claim? (9/19/2018)
Can I add a driver to my existing policy? (9/19/2018)
Can I make changes to my policy to increase the amount of coverage? (9/19/2018)
I paid off my vehicle, how do I update the lienholder information for my policy? (9/19/2018)
What if I need information about my bill or have questions about my bill? (9/19/2018
How can I find out more information regarding Rehabilitation of Paramount Insurance Company? (9/19/2018)
How long will Paramount Insurance Company be in Rehabilitation? (9/19/2018)
How can I contact the Receiver of Paramount Insurance Company? (9/19/2018)


What is the current status of Paramount Insurance Company?

Paramount Insurance Company was ordered into Rehabilitation on September 13, 2018 by the Circuit Court of Baltimore City. Risk and Regulatory Consulting, Inc. was appointed by the Court as the Receiver of the company.

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What is the status of my policy with Paramount Insurance Company?

No policies have been canceled as a result of the Rehabilitation. 

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Should I continue to pay the premiums for Paramount Insurance Company policy?
Yes. In order to keep your policy in force you are required to continue to pay the premiums as they become due. You should pay the premiums in the same manner as you did prior to the entry of the Order of Rehabilitation for Paramount Insurance Company.

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Is Paramount Insurance Company paying claims?
Yes. Paramount Insurance Company continues to process and pay valid claims.

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Can I file a new claim against Paramount Insurance Company?
Yes, continue to report a claim or loss to Paramount Insurance Company at: (410) 944-6882 (Baltimore area) or (240) 533-3001 (DC area). You may also fax us at (410) 505-1717

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What is the deadline for filing a claim?
There is currently no deadline for filing a claim.  Paramount Insurance Company continues to receive claims in the normal course of business.

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Can I add a driver to my existing policy?
Yes, contact your agent if you would like to make changes to your policy, including adding a qualified driver or removing a driver.

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Can I make changes to my policy to increase the amount of coverage?
Paramount Insurance Company does not offer higher policy limits of coverage.

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I paid off my vehicle, how do I update the lienholder information for my policy?
Contact your agent to have lienholder, address or other policy information updated.

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What if I need information about my bill or have questions about my bill?

If you make payments to a premium finance company, you should call the company to resolve any questions.  

If you paid Paramount Insurance Company directly call us at (410) 944-6882).

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How can I find out more information regarding the Rehabilitation of Paramount Insurance Company?

The Receiver will continue to post information to https://www.paramountinsurancemd.com  as more information becomes available.

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How long will Paramount Insurance Company be in Rehabilitation?
There is currently no estimate regarding the amount of time necessary to complete this process.

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How can I contact the Receiver of Paramount Insurance Company?
If you have questions for the Receiver regarding the Rehabilitation of Paramount Insurance Company you may contact him at receiver@parainsure.com or by phone at:888-616-0540.

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