OPPAGA text logo with graphic of FL historic capitol
OPPAGA text logo with graphic of FL historic capitol

Department of Financial Services

Rehabilitation and Liquidation

What is the purpose of the division?

The Department of Financial Services serves as the Receiver of any insurer placed into receivership. The Division of Rehabilitation and Liquidationplans, coordinates, and directs the affairs of a company placed into receivership by the Court's rehabilitation order or liquidation orders, pursuant to Ch. 631, Florida Statutes.

What is the division's role in the rehabilitation and liquidation process?

The department serves as the court-appointed receiver of financially impaired or insolvent insurance companies and to protect consumer interests. The Division of Rehabilitation and Liquidation administers the various receiverships on behalf of the department. The division works to improve all phases of its operation in an effort to manage receiverships in a manner that yields the maximum value to claimants and the public.

How do I find out what companies are in receivership?

The division maintains a comprehensive online database of insurance companies in receivership.  The database identifies insurance companies that are in liquidation, or rehabilitation, as well as those that have been closed.

How does the division assist policyholders of companies in receivership?

The division provides information to assist and educate the public regarding receivership issues.  Policyholders and others who might have claims against a company in receivership are provided information on how to file a claim in the receivership proceeding. Specific information regarding the companies in receivership is available on the division's website. To file a claim against a company currently in receivership, policyholders can see the division's How to File a Claim page on the website for specific companies and the Master Claim Form.

How effective is the division in performing its duties?

During Fiscal Year 2017-2018, the division administered 19 companies in liquidation and 2 companies in rehabilitation. Three companies were closed. The division distributed $14.1 million in early access distribution to guaranty association from seven different estates. The division distributed $44.7 million to claimants in 10 estates. The division recovered assets totaling $23 million, excluding litigation recoveries, and approximately $3.6 million through litigation.

How are these activities funded?


Fiscal Year: 2020-21
Fund Salary Rate/ Position General Revenue Trust Funds
SALARY RATE
POSITIONS
SALARIES AND BENEFITS
FROM INSURANCE REGULATORY TRUST FUND
OTHER PERSONAL SERVICES
FROM INSURANCE REGULATORY TRUST FUND
EXPENSES
FROM INSURANCE REGULATORY TRUST FUND
OPERATING CAPITAL OUTLAY
FROM INSURANCE REGULATORY TRUST FUND
SPECIAL CATEGORIES
CONTRACTED SERVICES
FROM INSURANCE REGULATORY TRUST FUND
SPECIAL CATEGORIES
RISK MANAGEMENT INSURANCE
FROM INSURANCE REGULATORY TRUST FUND
SPECIAL CATEGORIES
LEASE OR LEASE-PURCHASE OF EQUIPMENT
FROM INSURANCE REGULATORY TRUST FUND
SPECIAL CATEGORIES
TRANSFER TO DEPARTMENT OF MANAGEMENT SERVICES - HUMAN RESOURCES SERVICES PURCHASED PER STATEWIDE CONTRACT
FROM INSURANCE REGULATORY TRUST FUND
TOTAL
0
888,692

Updates

Receivership Duties.  As of May 2020, there are 332 companies in various stages of receivership. Of these, 10 are in liquidation, 1 is in rehabilitation, and 321 are closed.The division's website presents a list of companies in various stages of receivership and the most recent receivership actions taken by the division.

Where can I find related OPPAGA reports?

A complete list of related OPPAGA reports is available on our website.

Where can I get more information?

Other Reports
2018 Annual Report, Florida Department of Financial Services, Division of Rehabilitation and Liquidation.
Websites of Interest
International Association of Insurance Receivers
National Association of Insurance Commissioners
National Organization of Life and Health Guaranty Associations
Performance Information

Performance measures and standards for the department may be found in its Long Range Program Plan. 


Performance measures and standards for the department may be found in its Long Range Program Plan.

What are the applicable statutes?

Chapter 631 Part I, Florida Statutes.

Whom do I contact for help?

Division of Rehabilitation and Liquidation, 1-800-882-3054 (Florida only), 850-413-3132 (outside of Florida) or Contact Us Form

Website