How do I file a proof of claim with the Receiver?
The Receiver's claim filing deadline of August 17, 2010 have now passed.
However, if you need to file a claim with the Receiver for amounts not covered by the Florida Insurance Guaranty Association ("FIGA") or the Florida Workers' Compensation Insurance Guaranty Association ("FWCIGA"), you will need to complete and file a proof of claim form. To be considered timely filed, submitted proof of claim forms were required to postmarked on or before Tuesday, August 17, 2010.
If you need to request a proof of claim form, please contact the Receiver using our "Contact Us" form or by calling #850-413-3081 (toll free to Florida residents by calling #800-882-3054).
If applicable, proof of claim forms must be accompanied by an IRS Form W-9. Please refer to the form and instructions to determine whether or not you need to complete a Form W-9 along with your proof of claim form submission.
With the exception of auto warranty claimants, the Receiver received court approval to deem all unearned premium claims of First Commercial as timely filed without the need to file a claim. Therefore you do not have to complete and submit a proof of claim form for any unearned premium due to you that was not previously paid by FIGA or FWCIGA. If you had an auto warranty policy, you will need to file a proof of claim form to file your claim for unearned premium.
What happens if I fail to file the proof of claim form by the August 17, 2010 deadline? Can I still file a claim? Will it be considered late-filed?
Yes, you may still file a proof of claim after the August 17, 2010 claims filing deadline. However, any proof of claim form postmarked after August 17, 2010 will be processed as "late-filed". Late filed claims are given a lower claimant class priority.
If you believe that your proof of claim form should be considered timely-filed, you may submit a request to have the Receiver consider accepting your proof of claim form as timely-filed. With appropriate supporting documentation, Florida Statute 631 gives you the right to petition the Receivership court (Second Judicial Circuit Court, Tallahassee, Leon County, Florida, case number 2009-2668) to accept your claim as filed timely.
If I did not receive a proof of claim form and need to file a claim against First Commercial, how do I go about getting a proof of claim form?
If you believe you may have a claim in the receivership of First Commercial and you did not receive a proof of claim form, please contact the Receiver using our "Contact Us" form or by calling #850-413-3081 (toll-free to Florida residents by calling #800-882-3054).
I received a proof of claim form for a loss claimant but I did not receive a proof of claim form for an unearned premium claimant. How do I now obtain a proof of claim form for an unearned premium claimant?
The proof of claim mailing was not sent to claimants that have an unearned premium (premium refund) claim. Unearned premium claims are claims for premium that is owed back to the former policyholders of First Commercial. The Receiver has received court approval to deem all unearned premium claims as timely filed except for those related to auto warranty claimants. This means that unearned premium claimants, except auto warranty claimants, will have a filed claim in the estate without having to file a proof of claim form.
FIGA previously processed unearned premium refunds of $100 or greater. The outstanding claims represent the $100 statutory deductible not covered by FIGA or represent unearned premium claims that were less than $100 and thus the claimant did not receive a refund check from FIGA.
FWCIGA is currently processing unearned premium refunds on the workers' compensation policies.
Will the deadline be extended?
How do I obtain an IRS W-9 Form?
In order to submit an IRS W-9 Form along with your claim submission, you will need to visit the Internal Revenue web site at www.irs.gov and download the form and instructions.
Will agent commission claims, employee claims, general creditor claims, and premium finance company claims be paid by the Florida Insurance Guaranty Association ("FIGA") or Florida Workers Compensation Insurance Guaranty Association ("FWCIGA")?
No. These types of claims are not covered by FIGA or FWCIGA, but may be raised as claims in the receivership estate. There may not be sufficient assets to pay these priority of claims. However, you must file a proof of claim form to have your claim considered.
Can you verify receipt of my proof of claim and W-9 forms?
If you would like to verify receipt of your proof of claim form submission, the Receiver suggests that you send your completed forms by US Postal Service certified mail, return-receipt requested or by a delivery service like UPS or FedEx and keep the certification cards as proof of mailing. No confirmations of receipt of individual proof of claim forms will be provided.
When will my claim be paid and how much will I receive?
The amount of any potential payment is unknown until after the amount of all liabilities has been established and all reasonable efforts to recover and liquidate assets have been exhausted. Please be advised that it may take several years before a distribution of assets, if any, is made in this receivership, due to collection efforts and litigation. Also, any distribution made may not be for the full amount owed claimants in a particular claimant class. If monies are not sufficient to pay 100% to all claimants in a specific class, the amount of monies distributed will be prorated.
What if I don't know the exact amount of my claim or don't have all the documentation available at the time I submit my proof of claim?
In the amount claimed field on the Proof of Claim form, enter "$1.00" if you don't know the exact amount of the claim. If you need to submit additional documentation at a later date (but prior to the claims filing deadline), be sure to put your Receiver Claim Number ("RCN") on the documentation so that it can be identified and matched to your proof of claim.
The proof of claim form has a box for indicating whether the claim is a secured claim. I don't understand what this means?
Secured claim means "any claim secured by mortgage, trust deed, pledge, deposit as security, escrow, or otherwise but does not include a special deposit claim, a claim against general assets, or a claim based on mere possession". In other words, if a claim is secured by some form of collateral, it is considered a secured claim.
What is a Master Claim Itemization Table and how do I know if I need to submit one along with my proof of claim form?
If you have provided multiple services, you will need to complete the Master Claim Itemization Table, copy it to a CD and submit it to the Receiver along with your proof of claim form. A good example of someone that needs to complete a Master Claim itemization table would be a general creditor who has multiple invoices. The general creditor would have one claim that amounted to all the invoices for services provided. For more information on the Master Claim Itemization Table requirements, click here.
How do I update my contact information with the Receiver if I move or change my name?
It is the claimant's responsibility to notify the Receiver, in writing, if there is a change in their name or mailing address. When corresponding with the Receiver, be sure to reference "First Commercial Insurance Company" and the "Receiver's Claim Number ("RCN")", which will allow the Receiver to associate your request with the correct claim and Receivership.
If you have recently changed your name or mailing address, please click here. If a change occurs in the future, prior to the settlement of your claim, please download and submit a change of address or change of name form to the Receiver so we can update our records related to your claim.
What is the procedure for the filing and evaluation of a claim?
The procedure for the filing and evaluation of claims in a receivership is set out in Part I, Chapter 631, Florida Statutes. Assuming there are sufficient assets in the receivership, the Receiver will evaluate claims in order of their priority as set out in Section 631.271, Florida Statutes. This statute establishes a system of priorities in paying claims. When the evaluation process has been completed, the Receiver will file a report with the Court setting out our recommendations as to the amounts, if any, which should be allowed on each of the claims evaluated. Notice of the Receiver's recommendations and the deadline for filing any objections to the recommendations will then be provided to the claimants. It is unlikely that claimants will receive any correspondence or other communication from the Receiver until that time unless the Receiver has questions regarding the claim which has been filed. This is because the Receiver is trying to minimize the claims' processing costs in order to maximize potential distribution to the claimants.
During the claims evaluation period, the Receiver also commences litigation and/or takes whatever other action is necessary to collect and maximize the assets of the receivership estate. Please note: it may be several years before distributions, if any, are made in this receivership. Distributions of assets are made on a pro rata basis in accordance with the priority of claims which is set out in Section 631.271, Florida Statutes. Those whose claims fall into lower priorities are paid only if there is money left after paying the higher priority claims. It is too early in the receivership process for the Receiver to provide any estimate as to the timing and/or the pro rata percentage of the distributions, if any, which may be made in this receivership.