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Division Director

Toma Wilkerson


Assistant Division Director

Mary Linzee Branham


Division of Rehabilitation and Liquidation
Alexander Building
2020 Capital Circle SE
Suite 310
Tallahassee, FL 32301
1-800-882-3054

Company Information
Northern Capital insurance Company

Name of Company Northern Capital Insurance Company
case number: 2010 CA 1230
Date of Rehabilitation April 12, 2010
Date of Liquidation May 1, 2010
Policy Cancellation Date May 30, 2010
Claims Filing Deadline April 30, 2011
objection deadline March 7, 2014
Discharge date September 30, 2018
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

Notice of Receivership

On April 12, 2010, Northern Capital Insurance Company (“Northern Capital”) was ordered into receivership for purposes of rehabilitation by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services is the court appointed Receiver of Northern Capital. The company admitted that it is insolvent and consented to the receivership. At the same time the Court entered the rehabilitation order, the Court also entered an order liquidating Northern Capital effective May 1, 2010. The Department requested the combination of the rehabilitation, followed directly by the effective May 1, 2010 liquidation of Northern Capital, primarily in order to allow the Department additional time to assist Northern Capital’s policyholders in their efforts to obtain replacement property and casualty insurance coverage prior to the beginning of the 2010 hurricane season. To view copies of the rehabilitation and liquidation orders for Northern Capital, click here.

Background Information

Northern Capital, a Florida corporation licensed in 2006, was headquartered in Miami, Florida. The company was authorized to transact business in the state of Florida as a domestic property and casualty insurer. Northern Capital wrote homeowner’s multi-peril, inland marine and automobile insurance coverage in Florida.

Northern Capital had approximately 62,000 policies in-force as of the initial date of receivership. The largest concentration of policies is located in Palm Beach, Miami-Dad and Broward counties.

An affiliate of Northern Capital, Landmark One Insurance Company changed its name to Northern Capital Select Insurance Company effective April 27, 2009. On December 31, 2009, Northern Capital Select Insurance Company merged with Northern Capital Insurance Company, with Northern Capital Insurance Company as the surviving entity. Therefore, policies written through all three companies are now insured under the same company name, Northern Capital Insurance Company.

Northern Capital's existing policies were cancelled by the liquidation order effective 11:59:59 P.M. on May 30, 2010, unless otherwise terminated prior to that date.

Offer of Replacement Insurance Coverage for Selected Northern Capital Policyholders from American Integrity Insurance Company:

Prior to receivership, the Florida Office of Insurance Regulation arranged with American Integrity Insurance Company (“American Integrity”) to provide an offer of replacement insurance coverage to selected Northern Capital policyholders with homeowners’ insurance coverage. The agreement with American Integrity benefits the selected policyholders in that it offers a potentially smoother transition of the policies to another insurance company and also benefits the Northern Capital creditors in that American Integrity will pay the Northern Capital estate set amounts under the agreement for policies retained by the insurer.

On November 4, 2010, the Receiver mailed 7,387 Proof of Claim forms to all known claimants. The claim filing deadline was May 2, 2011.

On May 31, 2011, the Department completed the process of returning unearned premiums and closed the bank account. The Department returned unearned premiums to more than 33,000 policyholders. A total of 1,619 checks totaling $726,961.33 were not negotiated and the funds have been transmitted to Unclaimed Property.

On September 10, 2013, the Department mailed 271 Notices of Determination letters to Class 2, 4, and 7 claimants. The Objection Filing Deadline was October 25, 2013.

On January 17, 2014, the Department mailed an additional 57,148 Notices of Determination letters. These are the evaluations of Classes 3, 5, and 6 in the NCIC receivership estate. Classes for which funds were available were evaluated and the adjudicated amount owed shown in the Amount Recommended Claimant field along with the Classification of the claimant. The Objection Filing Deadline was March 7, 2014.

Distribution Checks Mailed March 12, 2018.

There were 50,446 checks mailed. These checks are valid for 90 days from the March 1st, 2018, date printed on the checks. Class 1 and class 2 claimants will receive 100% of evaluated and adjudicated recommended amounts. Class 3 claimants will receive a pro-rata share of 75.89%.  Class 2 and 3 claimants should recall that FIGA paid claims, less the $100 statutory deductible in 2011, therefore the predominate check amount is $75.90 as claim payment for the deductible.  Please see the related documents for the Order Authorizing Distribution. 

Claimants are encouraged to cash the checks as soon as possible. 

A letter is included in each check mailed providing instructions on requesting a change in the payee, a change of name, or a change of address.

The deadline to request such change was April 25, 2018.

Funds are not sufficient to distribute assets to lower priority classes.This is anticipated to be the only distribution.

Department Discharged September 30, 2018.

Estate Closure: The Division of Rehabilitation and Liquidation has distributed available assets and has Motioned the Court for Discharge as Receiver.  On September 14, 2018, the Court entered an Order Approving the Motion and Directing the Discharge of the Department as Receiver in the Northern Capital Insurance Company estate effective September 30, 2018. (This means the Division of Rehab & Liq are no longer handling the estate, it ceases to exist.)

The Receiver’s Accounting staff is preparing to send all un-negotiated funds to the appropriate jurisdictions Unclaimed Property authority. As soon as the transfer is prepared, we will provide you the transfer date. However, this could take several months. All the insurer’s bank accounts are closed. All distribution checks have expired. There will be no further distributions or check reissues. If checks are outstanding, the consumer must wait until unclaimed property has received the funds to make a claim with them.