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Division Director

Toma Wilkerson


Division of Rehabilitation and Liquidation
Alexander Building
2020 Capital Circle SE
Suite 310
Tallahassee, FL 32301
1-800-882-3054

Company Information
Magnolia Insurance Company

Name of Company: Magnolia Insurance Company
case number: 2010-CA-1522
Date of Liquidation: April 30, 2010
Policy Cancellation Date: May 30, 2010
Claims Filing Deadline: May 2, 2011
objection filing deadline September 23, 2013
Guaranty Association: Florida Insurance Guaranty Association (you are leaving the DFS website and opening a new browser window)
Type of Coverage: Property and Casualty
State of Domicile: Florida
Status of Receivership: Liquidation

Notice of Receivership

On April 30, 2010, Magnolia Insurance Company (“Magnolia”) was ordered into receivership for purposes of liquidation by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services is the court appointed Receiver of Magnolia. The company admitted that it is insolvent and consented to the receivership.

Background Information

Magnolia, a Florida corporation licensed in 2008, was headquartered in Coconut Grove, Florida. The company previously wrote homeowners policies in Florida and has been in a run-off mode while in a public Administrative Supervision since December 2009. Magnolia had as many as 36,000 policies in force as of the liquidation date. The company was only licensed in the state of Florida.

On January 1, 2011, the Receiver mailed 8,600 Proof of Claim forms to all known claimants. The claim filing deadline was April 11, 2011.

On May 31, 2011, the Receiver completed the process of returning unearned premiums and closed the bank account. The Receiver returned unearned premiums to more than 21,000 policyholders. A total of 1,524 checks totaling $501,626.68 were not negotiated and the funds have been transmitted to Unclaimed Property.

On July 10, 2013, the court approved the First Interim Claims Report and Recommendation on Claims. On August 8, 2013, the Receiver mailed 28,687 Notice of Determination letters to all known claimants. Classes for which funds were available were evaluated and the adjudicated amount owed shown in the Amount Recommended Claimant field along with the Classification of the claimant. The Objection Filing Deadline was September 23, 2013.

Notice to Claimants

On November 12, 2013, the court approved the Second Interim Claims Report and Recommendation on Claims. On December 6, 2013, the court approved the Third Interim Claims Report and Recommendation on Claims. On 12/19/2013 the Receiver mailed 111 Notice of Determination letters for the Second and Third Interim Claims Report to all known claimants. Classes for which funds were available were evaluated and the adjudicated amount owed shown in the Amount Recommended Claimant field along with the Classification of the claimant. The objection Filing Deadline was February 3, 2014.

On March 9, 2016, the court approved the Fourth Interim Claims Report and Recommendation on Claims. On April 6, 2016, the Receiver mailed 2 Notice of Determination letters. Classes for which funds were available were evaluated and the adjudicated amount owed shown in the Amount Recommended Claimant field along with the Classification of the claimant. The objection Filing Deadline was May 23, 2016.

On June 22, 2016, the Florida Insurance Guaranty Association agreed to our claim recommendations and waived the standard notice period. On July 21, 2016, the court approved the Fifth Interim Claims Report and Recommendation on the Florida Insurance Guaranty Association claims.