Lumbermens Underwriting Alliance
Effective May 23, 2016, Lumbermens Underwriting Alliance (“LUA”) was ordered into receivership for the purposes of liquidation by the Circuit Court of Cole County, Missouri. Bruce Baty of Dentons U.S. LLP was appointed Special Deputy Receiver of LUA.
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 per claim. For more information see the FAQ section of this website. 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 LUA policy. A policyholder may file a claim in the LUA receivership for the $100 deductible and for amounts over the cap.
Premium Refunds/Unearned Premium:
FIGA will pay unearned premium claims after the Missouri Receiver completes its processing of the policy records and sends the unearned premium records to FIGA. A $100 statutory deductible will be taken from the amount owed to each policyholder.
For non-claim related questions regarding the receivership, consumers are asked to contact the Receiver by calling (816) 460-2495 or visit their website at www.lumbermensunderwriting.com.
All policyholders should be informed that per section 631.68, Florida Statutes, the deadline for settling a claim or filing suit against FIGA is May 24, 2018.