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Rehabilitation Order Entered against Vanguard Fire & Casualty Company

1/19/2007

CONTACT:  FLDFS Press Office
(850) 413-2842
                                                             
TALLAHASSEE—A Leon County judge today ordered Maitland-based Vanguard Fire & Casualty Company into receivership for purposes of rehabilitation and named the Department of Financial Services as the receiver.  Vanguard, which currently has 75,000 homeowners policies, stopped writing new coverage earlier this month and announced it would not write renewal coverage after April 19, 2007.
Leon County Circuit Court Judge Terry P. Lewis signed the order late today after the company consented to being placed in receivership for rehabilitation. The department will continue to process and pay claims and will assist consumers who may need help finding new policies.
 
"Our priority is to make sure these policyholders are taken care of," said Florida's Chief Financial Officer Alex Sink, who oversees the department.  The department's Division of Rehabilitation and Liquidation will oversee the receivership.  The receivership was recommended by the Office of Insurance Regulation.
 
Consumers with questions regarding Vanguard Fire & Casualty Company should visit the company's website at www.vanguardfc.com or contact the company directly as follows:
 
To report a new claim – 1-888-343-5585
To check on the status of an existing claim – 1-866-830-6423
To check billing/payment status – 1-800-824-9109
For other policy or claim inquiries, consumers may call Vanguard Fire & Casualty Company's main consumer line – 1-866-830-6423.
For any other questions, consumers can call the Florida Department of Financial Services at 1-800-882-3054.  Additional information regarding Vanguard Fire & Casualty Company and the receivership process will be available on the Division's website, www.floridainsurancereceiver.org.
 
As a statewide elected officer of the Florida Cabinet, Chief Financial Officer Alex Sink  oversees the department of Financial Services, a multi-division state agency responsible for management of state funds and unclaimed property, assisting consumers who request information and help related to financial services, and investigating financial fraud. Sink also serves as the State Fire Marshal.