How to buy a Book of Business
This section is applicable when an insurer offers a new policy of coverage to
the insurer in receivership’s "book of business". A “book of business” refers to
the insurer in receivership's in force insurance policies.
In order to purchase books of business of an insurer in receivership, the
potential purchaser will need to be a licensed insurer who is authorized to
write the types of insurance products that are for sale.
For a list of books of business (without assumption) that are currently for
sale, please click here.
Below are the procedures involved in the purchase of books of business
(without assumption) from an insurer in receivership. The first step will allow
an interested party to be added to our mailing list in order to be notified when
books of business (without assumption) are for sale. The remaining steps
identify various processes that have to be completed to finalize the
- Register with the Receiver to be
notified when books of business become available for sale.
- Execute a Confidentiality
Agreement for a specific insurer in receivership and return it to the
- Request information from the
Receiver in order to perform due diligence.
- Submit an offer to purchase
books of business to the Receiver.
- If the offer is recommended, execute an agreement with the Receiver.
- If the policies are located in the state of Florida, file a notice of the
transaction with the Florida Office of Insurance Regulation. If policies are
located outside of Florida, obtain approval from the insurance regulator in that
state, if required.
- If the Florida Office of Insurance Regulation (or other state regulator)
approves or has no objection to the proposed purchase, the Receiver will seek
Court approval of the transaction.*
- The Receiver will seek Court approval of the transaction.*
- If the transaction is approved by the receivership court, complete the
remaining requirements within the executed agreement.