The multi-year Emergency Assessment (2023A 1.0%) first levied on 04.10.2023, will continue as planned. This multi-year continuous assessment will remain in place until all of the Series 2023A Bonds are repaid in full. Year 2 of the assessment will cover all policies with an effective or renewal date between 10.01.2024
Continue readingAuthor: Cavondra Ball
2023 Invitation to Negotiate Litigation Management Services
The American Guaranty Fund Group (AGFG) and Florida Insurance Guaranty Association (FIGA) is seeking proposals from firms interested in providing Litigation Management and Reporting Services. AGFG is a service company created to provide management and administrative services related to all post-insolvency claims filed with Florida Insurance Guaranty Association (FIGA). The
Continue reading2023 FIGA Assessment Update
Update: See OIR’s Order to levy 2023 FIGA Emergency Assessment for All Other Account. On March 31, 2023, the FIGA Board of Directors approved a 1% emergency assessment on its members. FIGA’s emergency assessment is necessary to secure funds for the payment of covered claims relating to the liquidation of United Property & Casualty Insurance
Continue readingUnited Property & Casualty Insurance Company
Liquidation Date: February 27, 2023NAIC Number:10969Claim Deadline: February 27, 2024 Policy Cancellation Date: March 29, 2023 [except for Flood Claims] Effective February 27, 2023, United Property & Casualty Insurance Company (“Company” or “UPC”) was ordered into liquidation by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services (“Department” or “Receiver”)
Continue reading2022 FIGA 1.3% Assessment Surcharge Payment Remittance Update
We received several notifications from members that the ACH instructions to the FIGA Trust Account for the 1.3% assessment are not transmitting. Due to the issues members have experienced, we have determined that effective immediately, all payments for all FIGA assessments will need to go through the FIGA Wells Fargo
Continue readingFedNat Insurance Company
Liquidation Date: September 27, 2022 NAIC Number:10790 Claim Deadline: September 27, 2023 Effective September 27, 2022, FedNat Insurance Company (“Company” or “FedNat”) was ordered into liquidation by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services (“Department” or “Receiver”) is the court appointed receiver for the Company. Copies of
Continue reading2022B FIGA Assessment Update
Update: See OIR’s Order to levy 2022B FIGA Assessment for All Other Account. On August 19, 2022, the FIGA Board of Directors approved a .70% assessment on its members. FIGA’s new assessment is necessary to secure funds for the payment of covered claims relating to the liquidation of Southern Fidelity Insurance Company and Weston Property
Continue readingWeston Property & Casualty Insurance Company
Liquidation Date: August 8, 2022 NAIC Number:11853 Claim Deadline: August 8, 2023 Policy Cancellation Date: September 7, 2022 Effective August 8, 2022, Weston Property & Casualty Insurance Company (“Company” or “Weston”) was ordered into liquidation by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services (“Department” or “Receiver”)
Continue readingUpdate on FIGA’s Invitation to Negotiate
FIGA will hold an open meeting on Friday, October 14, 2022 at 1:30pm to discuss the TPA selections pending Board approval. For those interested in listening to the meeting, please call Susan Ferguson at (850)523-1855 for details.
Continue readingSouthern Fidelity Insurance Company
Liquidation Date: June 15, 2022 NAIC Number: 10136 Claim Deadline: June 15, 2023 Policy Cancellation Date: July 15, 2022 Effective June 15, 2022, Southern Fidelity Insurance Company (“Company” or “Southern Fidelity”) was ordered into liquidation by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services (“Department” or “Receiver”)
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