FLORIDA SPECIALTY INSURANCE COMPANY

Información de la Compañía

Notificación de la Administración Judicial

On October 2, 2019, Florida Specialty Insurance Company ("FSIC") was ordered into receivership for purposes of liquidation by the Second Judicial Circuit Court in Leon County, Florida.  The Florida Department of Financial Services ("Department") is the court appointed Receiver of FSIC. 

FSIC was a property and casualty insurance company located in Sarasota, Florida.  The company was licensed in Florida in 1997, and wrote personal property insurance policies for homeowners, condos, renters, and manufactured homes.

Proof of Claim Forms

​On February 25, 2020, Proof of Claim forms (POCs) were mailed via the U.S. Postal Service.  3,260 POCs were mailed to policyholders and/or claimants that were involved in an open loss claim.  

On July 30, 2020 an additional 179 Proof of Claim forms (POCs) were mailed via the U.S. Postal Service.  

The deadline for filing a POC was October 2, 2020.  

Notices of Determination

​Notices of Determination for the First Interim Claims Report

On December 15, 2021, the Department mailed 535 Notices of Determination (NODs) via US postal mail to claimants with Class 2, 6, 8, and 11 claims.  The NODs inform the claimants of the Department's recommendation concerning the amount recommended and classification of their filed claim. 

The objection filing deadline was February 11, 2022.  The process by which an objection to class or amount may be filed is described in the NOD.  All objections must be filed in writing to both the Division and to the Clerk of Court and are due on or before the deadline date. Objections received after the deadline will not be considered. It is recommended that objections be sent by certified mail, return receipt requested.​

Court Ordered Claims Filing Bar Date Established

​The Court has approved an Order Establishing Bar Date for Claims.  All claims in the Florida Specialty Insurance Company receivership must be filed no later than July 1, 2022, or they shall be forever barred.  See Related Documents​ to review Motion and Order.

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Preguntas Frecuentes

¿Aún está en vigencia la póliza de mi seguro?

No.  All insurance policies issued by FSIC were cancelled as of November 1, 2019, as stated in the Amended Liquidation Order.

What do I need to do if I have an uncashed check written from a SunTrust Bank or Fifth Third Bank account?

The Florida Specialty Insurance Company's accounts at SunTrust Bank and Fifth Third Bank are closed.  Please do not attempt to negotiate any uncashed check(s), as they will be returned.  For assistance with non-cashed checks, you may contact the Department by using the Contact Us form​.  Someone from the Department will review your inquiry and contact you.  You may also contact the Department by calling (850) 413-3081 or toll free at 1-800- 882-3054.  Your inquiry will be directed to the appropriate staff member for review and handling.  

How will I get my unearned premium refund?

​The Florida Insurance Guaranty Association ("FIGA") has been activated to help pay unearned premium refunds for FSIC policyholders. 

If you elected coverage with Citizens Property Insurance Corporation ("Citizens") using the quick quote process, any unearned premium due back from FSIC, minus a $100 statutory deductible, will be sent to Citizens and applied to your new coverage amount.  You can contact Citizens at (866) 411-2742 or https://www.citizensfla.com/floridaspecialty.

If you did not elect coverage with Citizens, you will receive a check for any unearned premium, minus a $100 statutory deductible, owed to you after your policy has been cancelled.

Unearned premiums are covered by the Florida Insurance Guaranty Association.   

Unearned premium refunds for amounts over $100 have been mailed on all policies impacted by the liquidation.  There is a statutory deductible of $100 applied and any unearned premium under $100 is subject to the deductible. 

¿Qué ocurre su mi reembolso bruto es inferior a $100?

​If your gross unearned premium refund is less than $100 you will not initially receive a refund check. If the Receiver subsequently determines that adequate funds are available, it will process and pay the refunds that are less than $100.  

If I have a pending refund related to a rate rollback, how will I get my refund?

​Any pending refunds related to a rate rollback that resulted in an overpayment will be included in the unearned premium refund payment.

If premium was paid directly from my mortgage company to Florida Specialty Insurance Company, will the refund be returned to the mortgage company?

​Premium refunds will be sent directly to policyholders.

Hace poco cambié mi nombre o mi dirección de correo postal y necesito actualizar los registros de la compañía para asegurar que reciba la información que me envían por correo. ¿Qué hago?

​It is your responsibility to notify the Receiver, in writing, if you change your name or mailing address. You can download the appropriate form and instructions from the Receiver's website, www.myfloridacfo.com/division/receiver .  

When you are corresponding with the Receiver, be sure to reference your policy number and/or claim number which will allow the Receiver to associate your request with the correct receivership.

How can I get more information about my unearned premium?

For policy or premium refunds information, please call 888-723-3055.

For additional questions on unearned premium, you can call 1-800-882-3054 or (850) 413-3081.

If I have already filed a property and casualty claim with FSIC, will the liquidation affect the status of my claim?

No. The Florida Insurance Guaranty Association ("FIGA") has been activated to help pay outstanding claims for FSIC policies.  Processing and payment of pending covered claims has been taken over by FIGA. You can contact FIGA at (800) 988-1450 or https://figafacts.com/.

How do I report a new property and casualty claim?

New FSIC claims should be reported to the Florida Guaranty Association prior to July 1, 2022.  You should contact the Guaranty Association at:
Florida Insurance Guaranty Association
P O Box 14249
Tallahassee, Florida 32317
1-800-988-1450 (toll-free)
Fax 1-850-523-1888

www.figafacts.com

FIGA will process claims relating to damage to your property which are covered under your homeowners policies.  Claims are subject to a $100 statutory deductible.

​Claims Bar Date Set for Filing Claims:

The Court has approved an Order establishing a bar date for claims.  No new filed claims will be accepted by the Receiver after July 1, 2022.  See Related Documents​ to review the Motion and Order establishing the date.

I filed a lawsuit against FSIC prior to their entry into liquidation. Why can't the lawsuit progress?

​Pursuant to the Amended Liquidation Order and to Section 631.041(1), Florida Statutes, there is an automatic stay in place prohibiting judicial and administrative proceedings against the company.

¿Qué es Florida Insurance Guaranty Association?

​The Florida Insurance Guaranty Association ("FIGA") is a nonprofit corporation statutorily created to provide a mechanism for the payment of claims when an insurance company is ordered liquidated.

¿FIGA tiene limites en cuanto a las reclamaciones cubiertas que procesan y pagan ?

​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 $300,000 with special limits applying to (1) damages to structure and contents on homeowners claims and (2) condominium and homeowners association claims. For damages to structure and contents on homeowners claims the FIGA cap is an additional $200,000. No claim will be paid in excess of this cap. All claims are subject to a $100 statutory deductible over and above any deductible identified in your policy. You may file a claim in the estate of the insurance company for the $100 deductible and for amounts over the cap. Some claims are covered by the guaranty association and some claims can only be filed against the estate of FSIC because they are not covered by the guaranty association.

¿Qué es una reclamación cubierta?

​A covered claim is defined by Section 631.54, Florida Statutes, and means "an unpaid claim, including one of unearned premium, which arises out of, and is within the coverage, and is not in excess of the applicable limits of an insurance policy..."

How do I file a claim with the FSIC estate?

​In order for a claim against the estate of FSIC to be considered timely-filed, completed proof  of claim forms must be submitted and postmarked by October 2, 2020.

¿Cómo obtengo un formulario de Prueba de Reclamación?

​The Department mailed Proof of Claim (POC) forms on February 25, 2020 to insureds and/or claimants with an open loss claim. Additional forms were mailed in July, 2020.  

Do I need to submit a proof of claim form to the Department in order to have the guaranty association make payments on my pending FSIC claim?

​No. The guaranty association has access to the company claim files and will review your claim to determine if it is a covered claim on which payments may be due. If you are not certain that your claim is covered by the guaranty association and/or you wish to make a claim directly against the FSIC receivership estate, you must submit a Proof of Claim form to the Department.

¿Por qué recibí un formulario de prueba de reclamación?

​If you have received a proof of claim form, you have been identified as a potential claimant in the estate of FSIC.  Receiving a proof of claim form does not mean that you do have a claim in the FSIC estate, only that you were listed in the company records and could potentially have a claim.  Potential claimants can include loss claimants, policyholders, general creditors, agents, claims vendors etc.

Do I need to submit a proof of claim form to the Department in order to have my invoices for claim related expenses paid?

​Yes.  If you have unpaid invoices for services related to specific claim files (IME, copy charges, legal defense fees, damage estimation, appraisers, adjusting etc.) your claim is considered a General Creditor, Class 6 claim.  A guaranty association does not usually cover these. There may be insufficient assets to pay these types of claims, however, you must file a Department's proof of claim form to have your claims considered. These types of claims are most often considered Master Claims as they involve more than one invoice.

I am a policyholder. Do I need to submit a proof of claim form to the Department in order to have my Return Premium claim processed?

​No. Unearned premiums are covered by the Florida Insurance Guaranty Association.  Unearned premium refunds for amounts over $100 have been mailed on all policies impacted by the liquidation.  There is a statutory deductible of $100 applied and any unearned premium under $100 is subject to the deductible.  The Department will not require Proof of Claim forms from policyholders who have a potential return premium claim in the estate of FSIC.  Potential claims include the return premium claims of policyholder claimants who had a policy in force on the date of liquidation and all other return premium claims who the department calculates are due return premium.  Policyholders do not need to anything to file a timely claim for return premium or to have their claim accepted by the Department.

When is the deadline for filing a claim in the receivership?

​The deadline for filing claims in the FSIC receivership October 2, 2020.

¿Cómo se pagan las demandas en una quiebra?

Las demandas en una quiebra se pagan en orden de prioridades conforme a lo estipulado en el Capítulo 631 del Estatuto de la Florida. Los únicos activos disponibles para su distribución son los activos de la compañía.

Will my commissions (Agents) or General Creditor claims be paid by the Florida Insurance Guaranty Association ("FIGA")?

​No. Agent's commission claims and general creditor claims are not covered by FIGA, but may be filed as claims in the receivership estate. There may not be sufficient assets to pay this priority of claims; however, you must file a Proof of Claim form to have your claim considered.

I am an Agent who owes unearned commission. Where should I send the payment?

​​Payments made prior to October 12, 2021 should be sent to the following address: 

Division of Rehabilitation & Liquidation
P.O. Box 865694
Orlando, FL 32886-5694 

Effective October 12, 2021 payments should be sent to the following address: 

For Standard Payments Only:
State of Florida 
Division of Rehabilitation & Liquidation
P.O. Box 946694
Atlanta, GA 30394-6694 

For Express Payments Only:
Lockbox Services - #0865694
State of Florida
Division of Rehabilitation & Liquidation
3585 Atlanta Ave.
Hapeville, GA 30354​

¿A quién debo llamar para preguntas sobre la quiebra que no estén relacionadas con las demandas?

Si tiene preguntas sobre la quiebra que no estén relacionadas con la demanda, contacte al Departamento a través de Consumer.Services@myfloridacfo.com o llame al (850) 413-3081 o a la línea gratuita 1-800-882-3054.

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Información de Reclamaciones

When is the deadline for filing a claim in the receivership?

​The deadline for filing claims in the FSIC receivership was October 2, 2020.

Can I file a proof of claim form in the FSIC estate after the filing deadline?

A proof of claim form postmarked after October 2, 2020 will be processed as late-filed. No new filed claims will be accepted by the Receiver after July 1, 2022.  The Court has approved an Order setting the claims bar date, for claims.  See Documentos Relacionados to review Motion and Order.

How do I file a claim against the estate of FSIC?

​In order for a claim against the estate of FSIC to be considered timely-filed, completed proof of claim forms must be submitted and postmarked by October 2, 2020.

When is the Department sending out proof of claim forms?

​On February 25, 2020 proof of claim forms were mailed via the U.S. Postal Service.  3,260 POCs were mailed to policyholders and/or claimants that were involved in an open loss claim.  The Department mailed an additional 179 proof of claim forms to the remaining potential claimants on July, 30, 2020.

¿Cómo obtengo un formulario de prueba de reclamación?

If you did not receive a proof of claim form and you would like one, please contact the Receiver by using our Contact Us form.  Alternatively, you may contact the Receiver at #850-413-3081 (toll-free to Florida Residents by calling #800-882-3054).​

Do I need to submit a proof of claim form to the Department in order to have my Return Premium claim processed?

​No. Unearned premiums are covered by the Florida Insurance Guaranty Association.  Unearned premium refunds for amounts over $100 have been mailed on all policies impacted by the liquidation.  There is a statutory deductible of $100 applied and any unearned premium under $100 is subject to the deductible.  The Department will not require proof of claim forms from policyholders who have a potential return premium claim in the estate of FSIC.  Potential claims include the return premium claims of policyholder claimants who had a policy in force on the date of liquidation and all other return premium claims who the department calculates are due return premium.  Policyholders do not need to do anything to file a timely claim for return premium or to have their claim accepted by the Department.

Do I need to submit a proof of claim form to the Department in order to have my invoices for claim related expenses paid?

​Yes.  If you have unpaid invoices for services related to specific claim files (IME, copy charges, legal defense fees, damage estimation, appraisers, adjusting etc.) your claim is considered a General Creditor, Class 6 claim. A guaranty association does not usually cover these. There may be insufficient assets to pay these types of claims, however, you must file a proof of claim form to have your claims considered. These types of claims are most often considered Master Claims as they involve more than one invoice.

Can I file a proof of claim form in the FSIC estate after the filing deadline? Will it be considered late-filed?

Yes, you may file a proof of claim. However, any form postmarked after October 2, 2020 will be processed as late-filed.

¿Por qué recibí un formulario de prueba de reclamación?

​If you have received a proof of claim form, you have been identified as a potential claimant in the estate of FSIC.  Receiving a proof of claim form does not mean that you do have a claim in the FSIC estate, only that you were listed in the company records and could potentially have a claim.  Potential claimants can include loss claimants, policyholders, general creditors, agents, claims vendors etc

Do I need to submit a proof of claim form to the Department in order to have my commissions (Agents) or General Creditor claims paid?

​Yes. Agent's commission claims and general creditor claims are not covered by FIGA, but may be filed as claims in the receivership estate. There may not be sufficient assets to pay this priority of claims; however, you must file a proof of claim form to have your claim considered.

¿Cómo se pagan las demandas en una quiebra?

Las demandas en una quiebra se pagan en orden de prioridades conforme a lo estipulado en el Capítulo 631 del Estatuto de la Florida. Los únicos activos disponibles para su distribución son los activos de la compañía.

Do I need to submit a proof of claim form to the Department in order to have the guaranty association make payments on my pending FSIC claim?

No. The guaranty association has access to the company claim files and will review your claim to determine if it is a covered claim on which payments may be due. If you are not certain that your claim is covered by the guaranty association and/or you wish to make a claim directly against the FSIC receivership estate, you must submit a proof of claim form to the Department.

How do I report a new property and casualty claim?

​New FSIC claims should be reported to the Florida Guaranty Association: you should contact FIGA at:
Florida Insurance Guaranty Association
P O Box 14249
Tallahassee, Florida 32317
1-800-988-1450 (toll-free)
Fax 1-850-523-1888

www.figafacts.com

FIGA will process claims relating to damage to your property which are covered under your homeowners policies.  Claims are subject to a $100 statutory deductible.

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Estados Financieros

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Documentos Relacionados