Once a potential buyer has submitted an offer and the Receiver has accepted the offer, a loss portfolio agreement will need to be finalized. Below is a generic copy of a proposed loss portfolio agreement to provide you with an outline of the various requirements. Due to unique circumstances relating to each insurer, the Receiver reserves the right to modify this agreement to specifically address all aspects of the proposed transaction.
Note: Once the loss portfolio agreement is executed, the approved buyer will need to file a notice of the proposed transaction with the Florida Office of Insurance Regulation. If the policies are located outside of Florida, obtain approval from the insurance regulator in that state, if required.