On March 15, 2011, Seminole Casualty Insurance Company (“Seminole”) was ordered into liquidation by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services is the court appointed Receiver of Seminole.
Seminole Casualty is a property and casualty insurance company which was licensed in Florida in 1988. The company is currently licensed in 8 states – Florida, Alabama, Georgia, Maryland, Nevada, New York, Pennsylvania, and Tennessee – but wrote primarily personal and commercial auto only in Florida and Maryland. As of February 28, 2011, the Company had a total of 36,671 Florida personal auto policies, 1,764 commercial auto policies and 2,644 artisan contractors’ general liability policies. Additionally, the Company had approximately 1,161 Maryland personal auto policies in force as of that date. We understand that the company has approximately 91 employees.
Claims Filing Deadline: Under the liquidation order, the deadline for filing claims in the Seminole Casualty Receivership is 11:59:59 p.m. on March 16, 2012. Information regarding the method for filing claims in the liquidation proceeding will be available on the Receiver’s website in the near future. In accordance with Section 631.68, Florida Statutes, the deadline for settling a claim or filing suit against the Florida Insurance Guaranty Association (“FIGA”) will be March 16, 2013 (i.e., one year after the Receiver’s claims filing deadline). Other deadlines may apply to policyholders in Maryland based on their state’s statutes.
For Property and Casualty Claims (i.e., commercial auto claims) of Florida Policyholders: With the entry of the liquidation order, the Florida Insurance Guaranty Association (“FIGA”) is activated to help pay outstanding claims for Florida property and casualty policies. The processing and payment of pending covered claims will be made by FIGA (subject to the lesser of policy limits or FIGA’s maximum cap). The maximum amount FIGA will cover is $300,000. No claim will be paid in excess of this cap. By statute, all claims are subject to a $100 deductible over and above any deductible identified in the Seminole Casualty policy. A policyholder may file a claim with the Receiver for the $100 deductible and for amounts over the cap.
For Claims of Maryland Policyholders: With the entry of the liquidation order, Maryland Property and Casualty Insurance Guaranty Corporation is activated to help pay outstanding claims for Maryland property and casualty policies. The processing and payment of pending claims will be made in accordance with the Maryland statutes.
For non-claims related questions and additional information, you may review the Receiver's website, www.myfloridacfo.com/Division/Receiver or call the Florida Department of Financial Services, as Receiver, at 1-800-882-3054 or (850) 413-3081. Copies of the Liquidation Order and other relevant information are available on the Receiver’s website, www.myfloridacfo.com/Division/Receiver.