SHIP is a runoff of a troubled long-term care insurer that was restructured.

SHIP was placed in Rehabilitation in January 2020 to stabilize its financial situation. A September 2023 rehabilitation plan was implemented that included premium increases and benefit reductions. Since that time, SHIP’s financial situation has continued to deteriorate. SHIP could be placed in liquidation at a future date.

As of December 31, 2025:

• SHIP had over 18,000 long-term care policyholders; 286 reside in Wisconsin.
• To maintain eligibility for policy benefits and continuation, you are required to keep your policy in-force.
• Wisconsin Insurance Security Fund is informed and apprised of developments.
  • In the event SHIP is placed in liquidation, the Security Fund is then activated for policy continuation and coverage on long-term care policies for Wisconsin residents that are in-force on the liquidation date.
  • The Security Fund will directly contact Wisconsin policyholders regarding policy continuation and coverage.