Division of Rehabilitation and Liquidation
| Name of Company: | Nationwide Public Employees Trust |
|---|---|
| Date of Rehabilitation: | May 15, 2003 |
| Date of Liquidation: | August 5, 2003 |
| Policy Cancellation Date: | June 30, 2003 |
| Claim Filing Deadline: | April 29, 2005 |
| Guaranty Association: | None |
| Type of Coverage: | Unauthorized Insurer - Life and Health |
| State of Domicile: | Florida |
| Status of Receivership: | Closed |
| Date of Discharge: | December 31, 2009 |
Nationwide Public Employees Trust (“NPET”) was a non-licensed insurance entity. On August 5, 2003, the Second Judicial Circuit Court in and for Leon County, Florida (“Court”) signed an Order appointing the Florida Department of Financial Services, Division of Rehabilitation and Liquidation as the court appointed Receiver for purposes of liquidation.
Miami-Dade County and the City of Cinco Bayou entered into funding arrangements with the Receiver for the purpose of having their employees’ claims paid. All known claims for employees of the City of Cinco Bayou and Miami-Dade County have been paid.
On January 18, 2005, the Receiver mailed out proof of claim (“POC”) notices to potential claimants of the NPET estate. The Court designated 11:59 PM on April 29, 2005 as the claims filing deadline. Former NPET subscribers whose claims were satisfied pursuant to funding arrangements between the Receiver and their employer were not mailed POC notices. The POC forms were to be completed and returned prior to the claims filing deadline. Any claims received after the claims filing deadline of April 29, 2005 were considered “late filed”.
On August 11, 2006, the First Interim Claims Report was filed with the Court in the estate of NPET. On August 16, 2006, the Court issued an order approving the report. On September 1, 2006, notices were mailed to 105 NPET claimants who filed a proof of 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 objects to the recommendations. Objections were required to be filed by the claimant, in writing, with the Court and the Receiver and postmarked by October 16, 2006. Objections filed after that date were not considered.
On October 16, 2008, the Court approved the Final Claims Report regarding a distribution of assets in this estate. Under the terms of the Order, Class 2 claimants received a 17.531% distribution of the adjudicated amounts on their claims. Distributions were mailed on November 3, 2008.
On December 28, 2009, the Court issued an Order that discharged the Florida Department of Financial Services of its duties as Receiver of NPET effective December 31, 2009.
Pursuant to the Discharge 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:
www.fltreasurehunt.org
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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