Division of Rehabilitation and Liquidation
| Name of Company: | Century Service Systems, Inc. |
|---|---|
| Date of Liquidation: | November 12, 2010 |
| Policy Cancellation Date: | November 12, 2010 |
| Claims Filing Deadline: | November 12, 2011 |
| Guaranty Association: | None |
| Type of Coverage: | Warranties |
| State of Domicile: | Florida |
| Status of Receivership: | Closed |
| Date of Discharge: | April 30, 2011 |
On November 12, 2010, Century Service Systems, Inc. (“CSSI”) was placed into liquidation by the Second Judicial Circuit Court in and for Leon County, Florida. The Florida Department of Financial Services, Division of Rehabilitation and Liquidation, is the court appointed Receiver of CSSI.
During the course of the receivership, the Receiver worked to arrange replacement coverage for contract owners. This allowed claimants to keep their home warranty coverage and also reduced the liabilities of the estate. However, the Receiver determined that there were no funds available to make any distributions to claimants and requested Court approval to close the estate.
On April 5, 2011, the Court issued an Order that discharged the Florida Department of Financial Services of its duties as Receiver of CSSI effective April 30, 2011.
Background InformationCSSI was licensed on September 16, 1994 to transact business in the state of Florida as a service warranty association. The company is located in Deerfield Beach, Florida. The company ceased writing new or renewal business on November 3, 2010. As of the liquidation date, the company had approximately 5,000 service warranty contracts in force in Broward, Martin, Palm Beach, and St. Lucie counties.
Offer of Coverage from Service AmericaIn an effort to assist CSSI’s service contract owners, the Receiver has arranged with Service America Enterprise, Inc. (“Service America”) to offer transition service contracts/coverage. Service America has agreed that it will provide CSSI’s service contract owners with this coverage from December 2, 2010 to the end of the service contract owner’s original CSSI contract for no additional cost provided that the service contract owner purchase an additional year of coverage from Service America at the time that the offer is accepted. Further, Service America has agreed to offer the one year renewal service contract for the same price, coverage, terms, and conditions as the original CSSI contract.
A notice has been mailed to all known service contract owners providing them with the current status of CSSI and the offer of coverage from Service America. If, after reading the notice, contact owners have additional questions about the offer of coverage, they may contact Service America directly at #1-888-284-7403.
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