|Name of Company:||Guarantee Insurance Company|
|Date of Liquidation:||November 27, 2017|
|Policy Cancellation Date:||December 27, 2017|
|Claim Filing Deadline:||May 29, 2018|
Contact information for other states' guaranty funds cna be found at https://ncigf.org/public/guarantyfunds.
|Type of Coverage:||Property and Casualty - Workers'' Compensation|
|State of Domicile:||Florida|
|Status of Receivership:||Liquidation|
Notice of Receivership
On November 27, 2017, Guarantee Insurance Company ("GIC ") consented to and was placed into liquidation by the Second Judicial Circuit Court (“the Court”) in and for Leon County, Florida. The Florida Department of Financial Services, Division of Rehabilitation and Liquidation, is the court-appointed Receiver of GIC.
GIC, a Florida corporation licensed in 1977, is headquartered in Fort Lauderdale, Florida. The company writes Workers' Compensation in Florida and other states. GIC was licensed in forty states and the District of Columbia, and wrote business in thirty-one states and the District of Columbia at the time of liquidation.
The states other than Florida where GIC had in-force polices at the time of liquidation are Alabama, Arkansas, Colorado, Delaware, the District of Columbia, Georgia, Idaho, Indiana, Kentucky, Louisiana, Maine, Maryland, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Virginia, and West Virginia.
GIC had approximately 8,600 active policies as of November 13, 2017, including 1,250 in Florida. Under the liquidation order, all GIC policies are cancelled effective on December 27, 2017, unless otherwise terminated prior to that date.
The Department has not yet begun the proof of claim filing process. Once the proof of claim process begins, information will be posted to the Department’s website on how you can obtain a proof of claim form.