jump to main menu jump to subject menu jump to content jump to footer
go image

Division Director

Sha'Ron James

Assistant Director

Al Willis


Division of Rehabilitation and Liquidation
Alexander Bldg.,
2020 Capital Circle SE, Ste. 310
Tallahassee, FL 32301
1-800-882-3054
design placeholder only

Company Information
Atlantic Preferred Insurance Company

Name of Company: Atlantic Preferred Insurance Company
case number: 2006-CA-1083
date of rehabilitation: May 1, 2006
Date of Liquidation: June 1, 2006
Policy Cancellation Date: July 1, 2006
Claims Filing Deadline: June 1, 2007
Type of Coverage: Property and Casualty
State of Domicile: Florida
Status of Receivership: Liquidation

Company Information

Effective June 1, 2006, the Second Judicial Circuit Court in Leon County, Florida, entered orders placing Atlantic Preferred Insurance Company, Florida Preferred Property Insurance Company, and Southern Family Insurance Company in receivership for purposes of liquidation. These companies were members of the Poe Financial Group and are referred to together as the “Poe Insurers.” The Florida Department of Financial Services is the court-appointed Receiver of the Poe Insurers.

Background Information

Atlantic Preferred was a Florida corporation that was formed in 1996 and is headquartered in Tampa, Florida. The company was authorized to transact business in the state of Florida as a domestic property and casualty insurer. Atlantic Preferred wrote homeowners multi-peril, allied lines, and fire insurance coverage. In March 2006, Atlantic Preferred reported an impaired financial condition on its annual financial statement as of December 31, 2005. As a result of its financial condition, the company ceased writing new insurance policies and ceased offering renewal policies on or about March 5, 2006. Atlantic Preferred was initially placed in receivership for purposes of rehabilitation on May 1, 2006. As of June 1, 2006, Atlantic Preferred had approximately 137,000 policies in force.

Liquidation Plan

In conjunction with the Office of Insurance Regulation, the Florida Insurance Guaranty Association, and Citizens Property Insurance Corporation, the Receiver developed a plan to provide for an orderly transition of eligible policyholders from the Poe Insurers to other insurers or to Citizens while continuing to serve the interests of the Poe Insurers’ creditors and the public. This plan was submitted to and approved by the Court on June 2, 2006. Under the Liquidation Plan, eligible policyholders were automatically transitioned to Citizens Property Insurance Corporation effective July 1, 2006 without the need for a new application or additional underwriting review. A copy of the Liquidation Plan is available here. A summary of the Liquidation Plan is available here.

On 9/4/2012, the Receiver mailed Notices of Determination to all known claimants. All classes were evaluated and the amount recommended along with the class assignment are identified in the notice. The Objection Filing Deadline is October 22, 2012. Objections will not be accepted after this date.