|Name of Company:||United Southern Assurance Company|
|Date of Liquidation:||September 18, 1997|
|Policy Cancellation Date:||October 18, 1997|
|Claims Filing Deadline:||September 18, 1998|
|Guaranty Association:||Florida Insurance Guaranty Association (you are leaving the DFS website and opening a new browser window)|
|Type of Coverage:||Property and Casualty|
|State of Domicile:||Florida|
|Status of Receivership:||Liquidation|
Claims Evaluation and Distributions
On March 2, 2012, the First Interim Claims Report was filed with the Court in the estate of United Southern Assurance Company (USAC). On March 6, 2012, the Court issued an order approving the report. The First Interim Claims Report addresses claims filed in Classes 1 -`0. Only claims in Classes 1 through 2 were evaluated due to limited assets in the estate. The Department does not anticipate a distribution to any claimants beyond Class 2. On March 15, 2012, Notices of Determination ("Notices") were mailed to the 2,313 claimants that filed a claim in the estate. The Notice informed them of the Department's recommendations concerning the classification and amount of their claim, along with instructions on how to proceed if a claimant objected to the recommendations. Objections were required to be filed by the claimant, in writing, with both the Court and the Department and postmarked by May 21, 2012. Objections filed after that date were not considered.
On January 15, 2012, the Second Interim Claims Report was filed with the Court in the estate of United Southern Assurance Company (USAC). On January 29, 2013, the Court issued an order approving the report. The Second Interim Claims Report addresses 327 claims filed by USAC policyholders in other states which had originally been classified in class 6 but were reclassified as Classes 2, & 3. On February 3, 2013, the Department mailed Notices of Determination to those claimants. The amount recommended along with the class assignment were identified in the notice for classes 1 through 3 for those claimants receiving notices. The Objection Filing Deadline was March 21, 2013. Objections were accepted after that date.
Currently, there are two objections in class 2 which are awaiting consideration with the court. When these objections are resolved, we anticipate requesting the courts authority to proceed with a final distribution to class 1 and 2 claimants. Payments intended for specific claims which cannot be delivered will be transferred to the Department of Financial Services, Division of Unclaimed Property, according to our last known information for that claimant. You may visit their website at: https://www.fltreasurehunt.org
If you have a class 1 or class 2 claim with a recommended amount, and it is necessary to update the name and/or address due to a change in your circumstances, please click here to request the appropriate forms and instructions.
Distribution Checks Mailed:
On 10/16/2017 the Department mailed claim distribution checks. A total of 204 checks were mailed - 64 to various states’ guaranty funds and 140 to non-guaranty fund claimants- with 23 others suspended for no better address and/or W9 issues. These checks represent payment of 100% of the Class 1 and 98.1% of the class 2 claims.In addition to the check, a Notice will be sent as an insert advising the claimant that the check is time sensitive and is only valid for the period specified on the front of the check. The Notice instructs the claimant to deposit the check as soon as possible. There are no further distributions anticipated for this estate.