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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

Guarantee Insurance Company

Frequently Asked Questions

 

Company History

On November 27, 2017, Guarantee Insurance Company (“GIC”) was ordered into receivership for purposes of liquidation by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services is the court appointed Receiver of Guarantee Insurance Company.

GIC is a workers’ compensation insurance company located in Fort Lauderdale, Florida.

GIC was originally licensed in Florida in 1977 as a foreign insurer. On January 5, 2007, GIC was re-domesticated to Florida from South Carolina

Do I need to continue paying my premiums?

Yes. If you wish to continue your insurance coverage with GIC, you must continue to pay your premiums. Please follow the payment instructions on your bill.

Is my insurance policy still in force?

Yes. All insurance policies issued by GIC will remain in full force and effect until cancelled in the normal course of business or until the cancellation date of December 27, 2017, as stated in the Liquidation Order.

Should I get an insurance policy with another company? If so, where?

Your coverage will continue until cancelled in the normal course of business or until the cancellation date of December 27, 2017, as stated in the Liquidation Order. However, the decision to replace your coverage with another insurer is yours. You may contact your current agent, or any other licensed insurance agent, to get the names of other insurers. You may also visit the Department’s Coverage Assistance Program to research insurance companies currently providing coverage. The Florida Department of Financial Services does not recommend any particular company.

Is GIC writing new or renewal business?

No. GIC is not writing new or renewal business.

If I have already filed a workers’ compensation claim with GIC will the Liquidation affect the status of my claim?

No. To the extent possible, claims will be processed in the ordinary course of business unless notified otherwise. The guaranty associations of the states where GIC wrote business have been activated to help pay outstanding claims for workers’ compensation policies. At the appropriate time, the processing and payment of pending covered claims will be transitioned to the appropriate state guaranty associations.

Will there be any interruption in my routine indemnity (loss wages) or pharmacy claim payments?

No.  There should be no interruptions, to the extent possible.

Can I get my prescription filled during the transition?

Generally, yes. The pharmacy you select is your choice. However, you may want to consider utilizing an “in-network” pharmacy during the transition to avoid any delay in prescription processing. A list of “in-network” pharmacies may be found on the GIC website.

Will there be any interruption in obtaining medical authorizations?

For medical authorizations on a claim that was established prior to November 27, 2017, please contact the GIC Client Service Center: 1-877-886-4334 (toll free).
For medical authorizations on new claims, the Department is currently forwarding new claim information to the applicable guarantee association. For non-emergency treatment, please wait for the applicable state guaranty association to contact you.

Will I receive a new check if my loss wage check was not honored?

Yes, it is possible to receive a replacement check if the bank did not honor your wage check. Please complete the Check Replacement and Bank Fee Reimbursement Form and submit it with the required documentation via e-mail to RehabEstateAccounting@MyFloridaCFO.com or by fax at 850-413-3992.

Will I be reimbursed overdraft fees and/or penalties should my loss wage check be refused by the bank ?

Yes, it is possible to be reimbursed for fees and/or penalties for GIC checks not honored. Please complete the Check Replacement and Bank Fee Reimbursement Form and submit it with the required documentation via email to RehabEstateAccounting@MyFloridaCFO.com or by fax to 850-413-3992

When will the Guaranty Association take over payment of my claim?

The Department is currently gathering claim files and claims data in order to forward the information to the appropriate Guaranty Associations. Please continue to contact GIC in accordance with the company's normal procedures until instructed differently. The Department’s website, www.myfloridareceiver.com/division/receiver, will be updated once the transition is completed. At that time, new contact information will be posted to assist policyholders in filing a new claim or in following up on a pending claim.

There is a lawsuit being brought against me for bills that GIC should have paid. What should I do?

Please contact GIC using the company’s normal claims filing procedures until notified otherwise.

I filed a lawsuit against GIC prior to their entry into liquidation. Why can't the lawsuit progress?

Pursuant to the Liquidation Order and to Section 631.041(1), Florida Statutes, there is an automatic stay in place prohibiting judicial and administrative proceedings against the company.

I'm trying to file a lawsuit against GIC but the process server is not being allowed to perfect service of the complaint. Why?

Pursuant to the Liquidation Order and to Section 631.041(1), Florida Statutes, there is an automatic stay in place prohibiting judicial and administrative proceedings against the company.

How do I report a new workers’ compensation claim?

Please continue to report all new claims to GIC in accordance with the company’s normal claims filling procedures until instructed differently.  Consumers should visit the company’s website at www.guaranteeins.com or contact the company directly as follows:

Guarantee Insurance Company – Direct Contact Information:

Claims (all States): 877-323-8803 (toll free)

General Information:GIC Client Service Center: 1-877-886-4334 (toll free)

Who do I call for non-claims related questions?

If you have any non-claims related questions regarding the receivership, please contact the Department at Consumer.services@myfloridacfo.com or by calling (850) 413-3081 or toll free at 1-800-882-3054. 

When is the claim filing deadline?

The deadline for filing claims in the GIC Receivership is May 29, 2018

How do I file a claim with GIC?

There are different processes for filing claims against GIC.  Some claims are covered by guaranty associations and some claims can only be filed against the estate of GIC because they are not covered by guaranty associations. 

New Loss Claims (covered by a Guaranty Association) should be reported as noted above. For all other potential claims against GIC receivership, the Department has not yet begun the proof of claim filing process. Once the proof of claim process begins, information will be posted to this website on how you can obtain a proof of claim form.

How do I obtain a proof of claim form?

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.

I have a claim for return of unearned premium for my Workers’ Compensation policy. What do I do?

The process of returning unearned premium on a workers’ compensation policy involves completing a premium audit to determine the true amount of unearned premium on the policy and will not occur immediately. Claims for return of unearned premium on policies that were in force as of the liquidation date may be covered by the appropriate state guaranty association.

Claims for return premium on policies that were not in force as of the liquidation date may not be covered by the applicable state guaranty association, but may be a claim in the GIC receivership.

The Department intends to seek court approval to deem all unearned premium claims as timely filed. If approved, this means that unearned premium claimants will have a claim in the GIC receivership without having to file a proof of claim form. No action is required by unearned premium claimants at this time. Additional information about the deem filing of unearned premium claims will be posted to the Department’s website, once available.

My audit was completed and I have return premium due. How do I get my money back?

The Department is in the process of gathering that information and will forward the data to the guaranty associations in the applicable states. Payment of covered claims will be based on the laws governing the individual state guaranty association.

How long will the return premium process take?

The Department doesn’t know at this time; however, we will update our FAQs as more information becomes available.

Do I need to submit a proof of claim form to the Department in order to have a guaranty association make payments on my loss claim?

No. Once the transition is complete, the guaranty associations will have access to the company claim files and will review your claim to determine if it is a covered claim on which payments may be due.

However, if you are uncertain that your claim is covered by a guaranty association and/or you wish to make a claim directly against the GIC receivership estate, you must submit a proof of claim form to the Department. 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.

How are claims paid in a receivership?

The payment of claims in a receivership is defined by Florida Statutes, Chapter 631. Please be advised that the only assets that are available for distribution are the assets of the company.

When will agents receive an Agent Notice?

Agent Notices were sent on November 28, 2017. Copies of the Notices are available in the Related Documents section of the Department’s website.

What is the Agent’s responsibility to the policyholders?

Section 631.341(2), Florida Statutes requires that agents to provide written notice of the receivership by registered or certified mail, or by email with delivery receipt required, to the last known address of any policyholder a written notice of the insurer’s insolvency before the court-ordered cancellation date of the policies, which is December 27, 2017.

Will earned commission claims be paid by the Guaranty Association?

No. Typically, agents’ earned commission claims are general creditor claims and are not covered by the applicable guaranty association, but may be filed as claims in the receivership. There may not be sufficient assets to pay this priority of claims; however, agents must file a proof of claim form to have their claims considered.

How do agents obtain a loss run so they can work with the insured to obtain alternative coverage?

Please contact GIC using the GIC’s normal procedures until notified otherwise.