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Northern Capital Insurance Company

 

Northern Capital Insurance Company
Effective April 12, 2010, Northern Capital Insurance Company (“NCIC”) was ordered into receivership for the purposes of rehabilitation by the Second Judicial Circuit Court in Leon County, Florida.  At the same time the Court entered the rehabilitation order the Court also entered an order liquidating NCIC effective May 1, 2010.
 
With the entry of the liquidation order, the Florida Insurance Guaranty Association (“FIGA”) has been activated to help pay outstanding claims for property and casualty policies.  The processing and payment of covered claims will be made by FIGA (subject to the lesser of policy limits or FIGA’s maximum cap).  The maximum amount FIGA will cover is generally $300,000.  For more information see the FAQ section of this website or the Florida Receiver.  No claim will be paid in excess of this cap.  All claims are subject to a $100 deductible over and above any deductible identified in the NCIC policy.  A policyholder may file a claim in the NCIC receivership for the $100 deductible and for amounts over the cap.  
 
Claimants who need to check on the status of an existing claim should call the Florida Insurance Guaranty Association at 1-800-988-1450 (toll-free).  Consumers who need to report a new claim are directed to contact their agent or contact FIGA at the referenced phone number. You may also report a new claim by faxing or emailing FIGA.

You will need to have the following information available when reporting a new claim:
Insured's Name
Insured's Contact Information
Policy Number
Date of Loss
Brief Description of the Loss
Police Report, if applicable

This information can be faxed to 1-850-523-1888 or email to: nclaim@agfgroup.org

"What should I do after I file my claim?"

All policyholders should be informed that per Section 631.68, Florida Statutes, the deadline for settling a claim or filing suit against FIGA is April 30, 2012.
 
Premium Refunds/Unearned Premium
The Florida Receiver processed unearned premium refunds on homeowners policies on behalf of FIGA and all returned premium checks were mailed on or before May 18, 2010.  If you cancelled your policy prior to the May 30, 2010 mass cancellation date, a supplemental refund will be processed at a later date.

 
The Florida Receiver processed unearned premium refunds on cargo policies on behalf of FIGA and all returned premium checks were mailed May 28, 2010.  If you cancelled your policy prior to the May 30, 2010 mass cancellation date, a supplemental refund will be processed at a later date.
 
The Florida Receiver processed unearned premium refunds on auto policies on behalf of FIGA and all returned premium checks were mailed June 11, 2010.  If you cancelled your policy prior to the May 30, 2010 mass cancellation date, a supplemental refund will be processed at a later date.

 
FIGA is working with the Florida Reciever to process unearned premium refunds on the automobile policies.
 
A $100 statutory deductible will be taken from the amount owed. It is not necessary to report an unearned premium claim nor is any paperwork required. As soon as the checks are issued a notice will be placed on this website.
 
For non-claim related questions regarding the receivership, consumers are asked to contact the Receiver by using the “Contact Us” form at the Receivers website, www.floridainsurancereceiver.org or call the Florida Department of Financial Services, as Receiver, at (800)882-3054 or (850)413-3081.