On February 28, 2011, AequiCap Insurance Company (“AequiCap”) was ordered into receivership for
purposes of rehabilitation by the Second Judicial Circuit Court in Leon County, Florida. The Florida
Department of Financial Services is the court appointed Receiver of AequiCap. The company consented
to the receivership.
During rehabilitation, the Receiver will continue to process and pay claims in the ordinary course of business to the extent possible. AequiCap’s policies are not cancelled by the court order and will continue in the ordinary course of business. AequiCap ceased writing business effective February 16, 2011. Policyholders should continue to pay premiums as normal in order to continue their current insurance coverage.
AequiCap is a property and casualty insurance company which was licensed in Florida in 1985. The company is currently licensed in 4 states – Florida, Georgia, Oklahoma, and South Carolina – and writes commercial auto and workers’ compensation coverage. The company has approximately 2,332 policies and 44 employees.
POLICY ISSUES: The company previously announced that it had stopped writing new or renewal business effective February 16, 2011. However at this time, all in-force policies of Aequicap will remain active until the normal expiration of the policy unless cancelled due to the non-payment of premium by the policyholder.
Until further notice, consumers with questions are asked to contact the Receiver by using the “Contact Us” form at the Receiver’s website, www.myfloridacfo.com/Division/Receiver or call the Florida Department of Financial Services, as Receiver, at 1-800-882-3054 or (850) 413-3081. Copies of the Rehabilitation Order and other relevant information are available on the Receiver’s website, www.myfloridacfo.com/Division/Receiver.