Division of Rehabilitation and Liquidation
|Name of Company||American Risk Assurance Company|
|Date of Liquidation:||June 24, 1991|
|Policy Cancellation Date:||July 24, 1991|
|Claims Filing Deadline:||June 24, 1992|
|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:||Discharged|
|Date of Discharge:||September 30, 2005|
American Risk Assurance Company ("American Risk") was a property and casualty insurer that wrote automobile and homeowners multi-peril coverage. Its offices were located in Miami, Florida. On March 5, 1991, American Risk and its wholly owned subsidiary, National United Insurance Company ("National United") consented to rehabilitation by court order of the Second Judicial Circuit Court, Leon County, Florida ("Court"). On June 24, 1991, American Risk was placed into liquidation by court order. On July 8, 1991, National United was placed into liquidation by court order. On January 7, 1992, the Court approved a motion filed by the Receiver to consolidate the two receiverships.
The deadline for filing claims in the American Risk estate was June 24, 1992. Over the life of the two estates, the Receiver marshaled approximately $14.3 million in assets to pay to claimants of these combined estates. On December 7, 2004, assets were distributed on a pro-rata basis to 999 claimants. Class 1 claimants received a 100% distribution and Class 2 claimants received a 64.7% distribution of their evaluated and adjudicated claims. The assets in the estate were not sufficient to fund distributions to any claimants beyond Class 2.
On September 23, 2005 the Court entered an order discharging the Receiver from its duties for this estate effective September 30, 2005.
Pursuant to the court order, all undelivered distributions were sent to the Department of Financial Services, Bureau of Unclaimed Property. The Bureau of Unclaimed Property may be reached at:
Phone: (850) 410-9253
Toll Free: 1-888-258-2253 (Florida only)
Florida Department of Financial Services
Bureau of Unclaimed Property
P.O. Box 1910
Tallahassee, FL 32301-1910
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