Division of Rehabilitation and Liquidation
| Name of Company: | American Superior Insurance Company |
|---|---|
| Date of Liquidation: | December 15, 2004 |
| Policy Cancellation Date: | January 14, 2005 |
| Claims Filing Deadline: | December 1, 2005 |
| Guaranty Association: | Florida Insurance Guaranty Association (you are leaving the DFS website and opening a new browser window) (FIGA) |
| Type of Coverage: | Property and Casualty |
| State of Domicile: | Florida |
| Status of Receivership: | Liquidation |
Effective December 15, 2004, the Second Judicial Circuit Court in and for Leon County, Florida ("Court") ordered the liquidation of American Superior Insurance Company (“American Superior”). The Florida Department of Financial Services, Division of Rehabilitation and Liquidation is the court appointed Receiver of American Superior. American Superior consented to receivership for purposes of rehabilitation on September 29, 2004. However, primarily as a result of the heavy losses the company sustained during the 2004 hurricane season, the Receiver determined that a successful rehabilitation of the company was not possible. The Receiver petitioned the Court for a liquidation order to best protect the interests of American Superior’s policyholders and claimants.
American Superior was a Florida domestic insurer that wrote business only in Florida. The company specialized in residential property coverage and had over 60,000 policies in-force. Over 10,000 claims were filed against American Superior as a direct result of damages caused by the four hurricanes which hit Florida in 2004.
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