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Estate Management Section

Mission

The Estate Management (EM) Section is dedicated to monitoring, coordinating, and directing the insurance receiverships to maximize value to claimants and the public.

Program Responsibilities of the Section

The Estate Management Section is charged with the overall responsibility of supervising insurance receivership activities so as to protect the interests of the claimants and public as provided in Chapter 631, Florida Statutes.

The responsibilities of this Section are to:

  • Coordinate and track receivership processes.
  • Coordinate communication with the Insurance Departments of other states when necessary.
  • Coordinate communication among the Division’s sections, the Office of Insurance Regulation and the Florida Department of Financial Services regarding receivership progress and activities.
  • Establish and maintain an electronic document master file library to record the histories of the impaired or insolvent companies and their progress through receivership.
  • Manage the initial on-site activities.
  • Coordinate the implementation of a receivership and other functions with the various guaranty associations and vendors.
  • Coordinate travel for on-site, professional, and educational activities.
  • Coordinate the division’s consumer response functions.
  • Manage ongoing development and maintenance of the division’s Intranet and its Internet website at www.floridainsurancereceiver.org.

Accomplishments in the 2006-2007 Fiscal Year

  • Guided six estates through the receivership process to discharge while making substantial progress toward discharging numerous others.
  • Continued the day-to-day, on-site management of five companies in court-ordered rehabilitation.
  • Planned and supervised the distribution of approximately $349,377,527.01 in early access payments to FIGA and FWCIGA from the various estates.
  • Worked closely with the NAIC (National Association of Insurance Commissioners) staff to continue implementation and marketing of the GRID (Global Receivership Information Database) application.
  • Made substantial progress in the implementation of an electronic document master file library for all discharged and active receiverships.  Completed the imaging of court files involving seventy-five closed receiverships and posted these documents to the relevant electronic master file libraries on the Intranet.
  • Improved the Division’s Internet Website to provide enhanced, user-friendly access to useful information for the benefit of both internal and external customers.  Enhancements included the ability for users to sort receivership data and create individualized reports based upon their needs and increased access to financial statements and other receivership imaged documents.
  • Made substantial improvements to the Section’s procedures and communication methods to better serve the needs of its customers and ensure smooth receivership processes from the initiation of a receivership to its discharge.  These improvements included joint efforts with the Florida Department of Financial Services and the Division of Consumer Services, to develop better methods of sharing information and analyzing data on the frequency and subject matter of consumer calls in order to better understand the needs of and provide information to the Department’s external customers.

Goals

  • Continue to improve the Receivership Tracking System to better enable the Division to produce reports showing the historical progress of each receivership.
  • Develop distribution and receivership closure checklists for use by the Division in facilitating the timely closure of receivership estates.
  • Complete insolvency reports for each of the estates to provide historical information as to the causes of the insolvency.
  • Implement a procedure for requesting releases and documenting the Division’s efforts to secure release from the federal government regarding any federal priority issues.
  • Enhance the Division’s website to streamline the process for purchasing an insurer, books of business or assets from the Receiver.
  • Complete imaging of all court files on closed receiverships and post these documents to the relevant electronic master file libraries.
  • Continue the revision or updating of all of the Section’s policies and procedures, as well as coordinating the same process with all of the other sections of the Division.

Staff and Contact Information

A Deputy Receiver oversees the daily activities of the EM Section’s 10 professional, technical, and support personnel.  Two additional Deputy Receivers primarily oversee the on-site activities of entities placed in receivership.  The EM Section can be reached at the Division’s main telephone number, (850) 413-3179, by fax at (850) 922-0289, or via the Internet at www.floridainsurancereceiver.org.