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    department of financial services division of rehabilitation and liquidation

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    Department of Financial Services

    Rehabilitation and Liquidation

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    What is the purpose of the division?

    The Department of Financial Services serves as the receiver of any insurer placed into receivership. The Division of Rehabilitation and Liquidation plans, coordinates, and directs the affairs of a company placed into receivership by the Court's rehabilitation order or liquidation orders, pursuant to Ch. 631, Florida Statutes.

    What is the division's role in the rehabilitation and liquidation process?

    The department serves as the court-appointed receiver of financially impaired or insolvent insurance companies and to protect consumer interests. The Division of Rehabilitation and Liquidation administers the various receiverships on behalf of the department. The division works to improve all phases of its operation in an effort to manage receiverships in a manner that yields the maximum value to claimants and the public.

    How do I find out what companies are in receivership?

    The division maintains a comprehensive online database of insurance companies in receivership. The database identifies insurance companies that are in liquidation, or rehabilitation, as well as those that have been closed.

    How does the division assist policyholders of companies in receivership?

    The division provides information to assist and educate the public regarding receivership issues. Policyholders and others who might have claims against a company in receivership are provided information on how to file a claim in the receivership proceeding. Specific information regarding the companies in receivership is available on the division's website. To file a claim against a company currently in receivership, policyholders can see the division's How to File a Claim page on the website for specific companies and the Master Claim Form.

    How effective is the division in performing its duties?

    During Fiscal Year 2018-2019, the division administered 17 companies in liquidation and 2 companies in rehabilitation. Nine companies were closed. The division distributed $2.6 million in early access distribution to guaranty association from two different estates. The division distributed $47.9 million to claimants in four estates. The division recovered assets totaling $20 million, excluding litigation recoveries, and approximately $6 million through litigation.

    How are these activities funded?

    Fiscal Year: 2021-22

    Fund Salary Rate/ Position General Revenue Trust Funds

    SALARY RATE 361,829 POSITIONS 1.00

    SALARIES AND BENEFITS

    FROM INSURANCE REGULATORY TRUST FUND

    183,604

    OTHER PERSONAL SERVICES

    FROM INSURANCE REGULATORY TRUST FUND

    14,923 EXPENSES

    FROM INSURANCE REGULATORY TRUST FUND

    380,484

    OPERATING CAPITAL OUTLAY

    FROM INSURANCE REGULATORY TRUST FUND

    27,000 SPECIAL CATEGORIES CONTRACTED SERVICES

    FROM INSURANCE REGULATORY TRUST FUND

    245,517 SPECIAL CATEGORIES

    RISK MANAGEMENT INSURANCE

    FROM INSURANCE REGULATORY TRUST FUND

    38,232 SPECIAL CATEGORIES

    LEASE OR LEASE-PURCHASE OF EQUIPMENT

    FROM INSURANCE REGULATORY TRUST FUND

    39,000 SPECIAL CATEGORIES

    TRANSFER TO DEPARTMENT OF MANAGEMENT SERVICES - HUMAN RESOURCES SERVICES PURCHASED PER STATEWIDE CONTRACT

    FROM INSURANCE REGULATORY TRUST FUND

    1,402 TOTAL 0 930,162

    Source: www.transparencyflorida.gov

    Updates

    Receivership Duties.  As of May 2021, there is 1 company in rehabilitation, 10 companies that are in liquidation, and numerous companies that are closed. The division's website presents a list of companies in various stages of receivership and the most recent receivership actions taken by the division.

    Where can I find related OPPAGA reports?

    Review of Professional Employer Organizations and Workers' Compensation, Report 21-04, March 2021

    Where can I get more information?

    Other Reports

    2019 Annual Report, Florida Department of Financial Services, Division of Rehabilitation and Liquidation.

    Websites of Interest

    International Association of Insurance Receivers

    National Association of Insurance Commissioners

    National Organization of Life and Health Guaranty Associations

    Performance Information

    Performance measures and standards for the department may be found in its Long Range Program Plan.

    What are the applicable statutes?

    Chapter 631 Part I, Florida Statutes.

    Whom do I contact for help?

    Division of Rehabilitation and Liquidation, 1-800-882-3054 (Florida only), 850-413-3132 (outside of Florida) or Contact Us Form

    Website

    Source : oppaga.fl.gov

    Rehabilitation and Liquidation

    MyFloridaCFO

    Rehabilitation & Liquidation

    Rehabilitation & Liquidation ABOUT THE DIVISION

    The Division of Rehabilitation and Liquidation is responsible for managing receiverships to maximize the value to claimants and the public.

    GENERAL

    COMPANIES

    CLAIMS

    ASSETS

    RECORDS

    Welcome

    The Department of Financial Services serves as the court appointed Receiver of any insurer placed into receivership in Florida.  The Division of Rehabilitation and Liquidation plans, coordinates and administers the receivership processes on behalf of the Department pursuant to the orders of the receivership court.

    On this website, you will find general information regarding the receivership process and specific information about the insurance companies that have been placed into receivership by the court.

    Please contact us if you would like additional information.

    If you would like to receive information on new receiverships or items for sale, please register on our Receivership Services Portal.

    Recent Receiverships

    Get more information on:

    SOUTHERN FIDELITY INSURANCE COMPANY

    AVATAR PROPERTY AND CASUALTY INSURANCE COMPANY

    ST. JOHNS INSURANCE COMPANY, INC.

    How to File a Claim

    Career Opportunities

    Annual Report

    Name / Address Change

    Insolvency Reports

    Upcoming Deadlines

    SOUTHERN FIDELITY INSURANCE COMPANY

    Claims Filing Deadline: Jun 15, 2023     Case # 2022-CA-001008

    AVATAR PROPERTY AND CASUALTY INSURANCE COMPANY

    Claims Filing Deadline: Mar 14, 2023     Case # 2022 CA 000366

    ST. JOHNS INSURANCE COMPANY, INC.

    Claims Filing Deadline: Feb 27, 2023     Case # 2022 CA 0316

    GULFSTREAM PROPERTY AND CASUALTY INSURANCE COMPANY

    Claims Filing Deadline: Jul 28, 2022     Case # 2021 CA 001308

    FLORIDA SPECIALTY INSURANCE COMPANY

    Claims Filing Deadline: Oct 2, 2020     Case # 2019 CA 002328

    Other Related Organizations / Links

    Florida Office of Insurance Regulation (FLOIR)

    National Association of Insurance Commissioners (NAIC)

    Florida Guaranty Associations

    National Guaranty & Receiver Organizations

    Global Receivership Information Database (GRID)

    Source : www.myfloridacfo.com

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