Division of Rehabilitation and Liquidation
About Us
The Division of Rehabilitation and Liquidation, under the direction of
its Division Director, plans, coordinates and directs the conservation,
rehabilitation and liquidation of insolvent insurance companies, unlicensed
insurance companies and unlicensed insurance entities and rehabilitates
financially troubled insurance companies.
The goal of the Division as liquidator is to maximize the
value of the assets of the liquidated company and
distribute the assets equitably as provided in
Chapter 631, Part I, Florida Statutes.
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If you would like to seek employment with the Division please visit
our Human Resources page.
All
of the following documents are provided as Adobe Acrobat PDF files and require
the free Adobe Acrobat reader software (you are leaving the DFS website and
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Click here to download
2009 Annual Report [905 kb]
Estate Management
This section is charged with the overall responsibility of supervising
the insurance receivership activities so as to protect the interests of the
claimants and public as set out in (Chapter 631,Florida Statutes). The responsibilities of this section
include (but are not limited to): monitoring and tracking
the receivership process, development and maintenance of
the website, managing on-site activities, developing a
history of each receivership , coordinating activities
with other sections of the division and the various guaranty associations.
Claims Services
The Claims Services section evaluates claims filed by policyholders
and creditors of the insolvent companies, responds to consumer
inquiries regarding the estates and maintains records for the
estates. The Claims Section staff must contact all policyholders
and other persons who might have claims, and advise them how
to file a claim against the company in the receivership. When
claims are filed, they must be evaluated. There must be
coordination with other states where the company did business
and with various insurance guaranty funds that help pay
claims. A staff knowledgeable about insurance claims and the
liquidation process is available to respond to questions at
850-413-3081
.
Information Technology Services
The Information Technology Services Section supports the Receiver’s mission, goals, and objectives by providing leadership and management in the effective use of Information Technology for the Division’s own infrastructure and each of the estates administered by the Division. The Section is charged with managing all Information Technology resources under responsibility of the Receiver. The Section strives to improve the IT environment, improve access to information, and facilitate the development of more effective and efficient Receivership operations.
Asset Recovery and Management Services
The Asset Recovery and Management Section staff is responsible for
identifying and collecting the various assets of the impaired or insolvent
estates. The Section has three units as follows: Reinsurance Recovery Unit,
Tallahassee Asset Recovery Unit, and Miami Asset Recovery Unit. Collectible
assets include reinsurance balances, agent unearned premiums/commissions,
assessments against self-insured funds and proceeds from the disposal of a
myriad of physical assets.
Accounting Services
The Accounting Services section administers the accounting of all funds belonging to the various receivership estates and manages the revenue collection and investment activities for the Receiver. The Accounting Section staff must assure all bank accounts are seized at the start of a receivership. The company's accounting and tax records must be examined for improper activities. Bills and payroll must be paid to maintain vital operations. An accurate accounting of company assets must be maintained at all times. When there are sufficient funds in the receivership estate, upon court ordered distribution, checks must be prepared and sent to claimants.
Legal Services
The Legal Services section is called on to file the necessary court papers to start delinquency proceedings (which is the statutory term for a receivership), to file court papers during the course of a receivership, to contact the judge for instructions when necessary, to file lawsuits to recover assets when necessary, to supervise and monitor outside attorneys who may be hired to handle major litigation and to advise the other division staff as to the many legal questions that arise during the receivership. The Division's legal section does not do any regulatory work for the Department. The Department's regular legal staff advises the Department in regulatory matters. The Legal Section consists of a Chief Attorney and up to 7 staff attorneys. The companies in receivership are apportioned among the staff attorneys.
Administrative Services
The Administrative Services Section provides internal administrative support to all
Sections of the Division, as well as companies in receivership, by managing all issues
related to human resources, records management, and general services. The Section’s
responsibilities include, but are not limited to, the following: Physical custodian of records;
maintenance of the Division’s electronic records management system; facilities management for all
leased property; purchasing and procurement (state and receiver); training and staff development;
human resource services for the non-state employees of the Division and employees of the estates;
administrative projects, such as coordinating the Division’s Continuity of Operations Plan, that affect
the entire Division; and managing a comprehensive mail processing center.
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