Division of Rehabilitation and Liquidation
| Name of Company: | Queensway Casualty Insurance Company |
|---|---|
| Date of Liquidation: | January 18, 2001 |
| Policy Cancellation Date: | February 18, 2001 |
| Claim Filing Deadline: | January 18, 2002 |
| Closed Date | September 30, 2011 |
| Guaranty Association: | Florida Insurance Guaranty Association (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 |
On January 18, 2001, Queensway Casualty Insurance Company ("Queensway Casualty") was placed into receivership for the purposes of liquidation by the Second Judicial Circuit Court in and for Leon County, Florida. The Florida Department of Financial Services is the court-appointed receiver of Queensway Casualty. In March 2001, the Receiver mailed proof of claim forms to all known claimants of Queensway Casualty. The claims filing deadline was January 18, 2002.
Claim Evaluations and Distributions
On June 9, 2008, the First Interim Claims Report and Recommendations on Claims was filed with the Court. The Court issued an Order approving the report on June 11, 2008. Notices were then mailed on June 24, 2008 to 561 Queensway Casualty claimants informing them of the Receiver's recommendations concerning the classifications and amounts on their claims, 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 both the Court and the Receiver and postmarked by July 31, 2008. Objections filed after that date were not considered.
On August 7, 2009, the Court issued an Order approving the Final Claims Report-Part 1, Claims Distribution Report and Distribution Accounting regarding a distribution of assets in this estate. Under the terms of the Order, 152 Class 1 and Class 2 claimants were approved to receive a 100% distribution of the adjudicated amounts on their claims. Distributions were mailed on August 31, 2009.
On April 2, 2010, the Second Interim Claims Report and Recommendations on Claims was filed with the Court. The Court issued an Order approving the report on April 5, 2010. Notices were then mailed on April 14, 2010 to 239 Queensway Casualty Class 3 claimants informing them of the Receiver's recommendations concerning the classifications and amounts on their claims, 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 both the Court and the Receiver and postmarked by June 30, 2010. Objections filed after that date were not considered.
On December 10, 2010, the Final Claims Report-Part II, Claims Distribution Report and Distribution Accounting were filed with the Court. On December 13, 2010, the Court issued an Order approving the motion and authorized a distribution of assets in this estate. Under the terms of the Order, 207 Class 3 claimants were approved to receive a 27.9011% distribution of the adjudicated amounts on their claims. Distribution checks were mailed on December 21, 2010.
On September 23, 2011, the Court issued an Order that discharged the Florida Department of Financial Services of its duties as Receiver of Queensway Casualty effective September 30, 2011.
Pursuant to the Discharge Order, all abandoned property was sent to the Department of Financial Services, Bureau of Unclaimed Property. The Bureau of Unclaimed Property may be reached at :
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