|Company Name:||Caduceus Self Insurance Fund, Inc.|
|Date of Liquidation:||January 3, 2000|
|Policy Cancellation Date:||February 2, 2000|
|Claim Filing Deadline:||September 3, 2000|
|Type of Coverage:||Medical Malpractice Self Insurance Fund|
|State of Domicile:||Florida|
|Status of Receivership:||Liquidation|
Claims Evaluation and Distributions
Proof of claim forms were mailed on June 30, 2000. Any proof of claim filed after the claim-filing deadline was considered "late filed".
On April 11, 2007, the First Interim Claims Report was filed with the Court in the estate of Caduceus Self Insurance Fund, Inc. On April 12, 2007, the Court issued an Order approving the report. On April 13, 2007, notices were mailed to 409 Caduceus claimants who filed a proof of claim in the state. The notice informed them of the Receiver's recommendations concerning the classification and amount of their claim, along with instructions on how to proceed if a claimant objects to the recommendations. Objections were required to be filed by the claimant, in writing, with the Court and the Receiver and postmarked May 15, 2007. Objections filed after that date were not considered.
On December 6, 2007, the Court approved the Final Claims Report regarding a distribution in this estate. Under the terms of the Order, claimants in Classes 1 through 4 received a 100% distribution of the adjudicated amounts of their claims. Distribution checks were mailed on December 14, 2007.
On December 24, 2007, the Receiver mailed out 1,193 checks to former members of Caduceus. The checks totaled $11,000,000.20 and represented a 73.3424% refund of amounts previously paid by members resulting from two assessments: the first in 1999 by the management of Caduceus and the second in 2003 by the Receiver. Total amounts collected from the two assessments, including assessment principal and collected interest, amounted to $14,998,140. The partial refund of previously collected assessments was the direct result of the Receiver's asset recovery efforts and related to a successfully prosecuted breach of contract action against The Doctors Company, a large California insurance company. To view a copy of the notice sent to members along with the check, click here.
On September 30, 2009, the Receiver filed a motion for approval to make a second and final distribution in this estate. On October 2, 2009 the Court issue an order approving a 100% distribution to 224 claimants in Classes 6, 7 and 9. Distribution checks were mailed on November 9, 2009.
On December 23, 2009, the Receiver mailed out 1,193 checks to former members of Caduceus. The checks totaled $3,998,139.80 and represented the remaining 26.6576% refund of amounts previously paid by members resulting from two pervious assessments: the first in 1999 by the management of Caduceus and the second in 2003 by the Receiver. Total amounts collected from the two assessments, including assessment principal and collected interest, amounted to $14,998,140. This refund is the second of two refunds of assessment amounts made by the Receiver. The Receiver has now refunded 100% of assessments previously paid by former members of Caduceus. To view a copy of the Second Refund of Assessment Notice sent to members along with their check, click here.