|Name of Company:||Senior Citizens Mutual Insurance Company|
|Date of Rehabilitation:||May 9, 2005|
|Date of Liquidation:||June 1, 2005|
|Policy Cancellation Date:||July 1, 2005|
|Claims Filing Deadline:||June 2, 2006|
|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|
Notice of Receivership
On June 1, 2005, the Second Judicial Circuit Court in and for Leon County, Florida ("Court"), issued an order placing Senior Citizens Mutual Insurance Company ("Senior Citizens") in receivership for purposes of liquidation. Senior Citizens consented to the appointment of the Florida Department of Financial Services as the court appointed Receiver of Senior Citizens. Senior Citizens previously consented to be placed into rehabilitation on May 9, 2005; however, the Department determined that a successful rehabilitation of the company was not possible. In accordance with the terms of the liquidation order, all policies in force were cancelled at 11:59 P.M. on July 1, 2005, unless otherwise cancelled earlier in the normal course of business.
Senior Citizens was a Florida domestic insurer licensed to write business in 20 states. The company specialized in other liability and commercial multi-peril coverage for senior citizens housing communities and had approximately 15 policies in force as of May 2005. The company also reinsured approximately 600 policies written directly by two other companies. Senior Citizens' home office was located in Miami, Florida.
On September 20, 2010, the First Interim Report on Claims was filed with the Court in the estate of Senior Citizens. On September 21, 2010, the Court issued an order approving the report. A total of 52 claims were filed in the Senior Citizens estate within Classes 1 through 7. On September 28, 2010, Notices of Determination "Notices") were mailed to these claimants. The Notice informed them of the Department's recommendations concerning the classification and amount of their claim, along with instructions on how to proceed if a claimant objected to the recommendations. Objections are required to be filed by the claimant, in writing, with both the Court and the Department and postmarked by November 15, 2010. Objections filed after that date were not considered.
On December 31, 2012, the Department mailed distribution checks totalling $97,666.76 to Class 1-3 claimants.That amount represented 100% of the recommended amount for those claims.
On October 3, 2013, the Department mailed distribution checks totalling $1,059,284.90 to Class 4, 6, & 7 claimants. That amount represented 100% of the recommended amount for those claims.
On September 30, 2016, the Department mailed distribution checks totalling $1,994,488.70 to Class 10 claimants. That amount represented 100% of the recommended amount for those claims. This is the final distribution that the Department will make from this estate.