Loss Portfolio Agreement
Once a potential buyer has submitted an
offer and the Receiver has accepted the offer, a loss portfolio
agreement will need to be finalized. Below is a generic copy of a
proposed loss portfolio agreement to provide you with an outline of
the various requirements. Due to unique circumstances relating to
each insurer, the Receiver reserves the right to modify this
agreement to specifically address all aspects of the proposed
transaction.
Sample - Loss Portfolio Agreement
Note: Once the loss
portfolio agreement is executed, the approved buyer will need to
file a notice of the proposed transaction with the Florida Office of
Insurance Regulation. If the policies are located outside of
Florida, obtain approval from the insurance regulator in that state,
if required.
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