Division of Rehabilitation and Liquidation
|Name of Company:||Vanguard Fire and Casualty Company|
|Date of Liquidation:||March 26, 2007|
|Policy Cancellation Date:||April 25, 2007|
|Claims Filing Deadline:||June 30, 2008|
|Guaranty Association:||Florida Insurance Guaranty Association ("FIGA") (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|
Effective 12:01 a.m. March 26, 2007, Vanguard Fire & Casualty Company ("Vanguard") was ordered into receivership for purposes of liquidation by the Second Judicial Circuit Court in Leon County, Florida ("Court"). The Florida Department of Financial Services is the court appointed Receiver of Vanguard. The company previously consented to receivership for purposes of rehabilitation on January 19, 2007. Although the Receiver attempted to rehabilitate the company, it was not possible to resolve the financial difficulties of the company. The Receiver petitioned the Court for a liquidation order to best protect the interests of Vanguard’s policyholders and claimants.
It is currently unknown when a distribution will take place in the Vanguard estate.
Claim Evaluation and Distributions
On July 11, 2012, the First Interim Claims Report was filed with the Court in the estate of Vanguard Fire & Casualty Company (Vanguard). On July 12, 2012, the Court issued an order approving the report. The First Interim Claims Report addresses all filed claims. Only claims in Classes 1, 2 and 3 were evaluated due to limited assets in the estate. The Receiver does not anticipate a distribution to any claimants beyond Class 3. On August 17, 2012, Notices of Determination ("Notices") were mailed to the 50,183 claimants that filed a claim in the estate. The Notice informed them of the Receiver's recommendations concerning the classification and amount of their claim, along with instructions on how to proceed if a claimant objected to the recommendations. Objections are required to be filed by the claimant, in writing, with both the Court and the Receiver and postmarked by October 8, 2012. Objections filed after that date will not be considered.
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