Office of Program Policy Analysis and Government Accountability
Office of Program Policy Analysis and Government Accountability

Department of Financial Services

Rehabilitation and Liquidation

For assistance, call 850-413-3132 or visit https://myfloridacfo.com/about/about-dfs

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 Liquidation plans, 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 Instructions.

How effective is the division in performing its duties?

During Fiscal Year 2021-2022, the division administered 14 companies in liquidation and 1 company in rehabilitation. No companies were reported as closed during the Fiscal Year in the 2021 Annual Report. The division distributed $134.2 million in early access distribution to guaranty associations from seven different estates. The division also distributed $7.8 million to claimants in three estates. During the same year, the division recovered assets totaling $90.5 million, excluding litigation recoveries, and approximately $12.5 million through litigation.

How are these activities funded?


Fiscal Year: 2023-24
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
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
1,437,034

Where can I find related OPPAGA reports?

Review of Professional Employer Organizations and Workers' Compensation, Report 21-04, March 2021

Where can I get more information?

Other Reports
2022 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.

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, 850-413-3132 or Contact Us Form
Website