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.
During Fiscal Year 2018-2019, the division administered 17 companies in liquidation and 2 companies in rehabilitation. Nine companies were closed. The division distributed $2.6 million in early access distribution to guaranty association from two different estates. The division distributed $47.9 million to claimants in four estates. The division recovered assets totaling $20 million, excluding litigation recoveries, and approximately $6 million through litigation.
| 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 |
930,010 |
Receivership Duties. As of May 2021, there is 1 company in rehabilitation, 10 companies that are in liquidation, and numerous companies that 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.
| Review of Professional Employer Organizations and Workers' Compensation, Report 21-04, March 2021 |
Other Reports
2019 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
Chapter 631 Part I, Florida Statutes.
Division of Rehabilitation and Liquidation, 1-800-882-3054 (Florida only), 850-413-3132 (outside of Florida) or Contact Us Form