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Citizens is next.
Citizens falls into too big to fail. If we get a major storm everyone in Florida will pay for the mistakes of past administrations.
I have a feeling the Homeowners Choice takeover is going to be a total cluster(insert naughty word here).
Talked to someone over there and it seems like total chaos. Plus, if a customer opts out of the assumption, I’m not sure there is any mechanism in place to let the agents know.
Citizens missed the big bomb this year, but all it’s going to take is another 2004 or 2005 and taxpayers in Indiana, Nevada and West Virginai are going to be asked to pony up.
How’s that going to go over in an election year?
Homewise Preferred & Homewise? How did these companies go from excellent rating to liquidation overnight? Evidently,seems that everyone on the street “knew” Homewise Preferred was doomed for years. Then Homeowner’s Choice is approved by the regulators to DOUBLE in such a soft market? Even in a good market, who has ever heard of an insurance company doubling in size and not heading for a fall. Chaos? Great. Who is protecting the policyholders in the state of Florida?
hi does any one know what is the phone number of the state insurance (the back up )for homewise claimes? if you do please em me i cannt seem to find it
Effective November 4th, 2011, Homewise Preferred Insurance Company (“HPIC”) was ordered into receivership for the purposes of liquidation by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services is the court appointed Receiver of HPIC.
With the entry of the liquidation order, the Florida Insurance Guaranty Association (“FIGA”) has been activated to help pay outstanding claims for property and casualty policies. The processing and payment of 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 generally $300,000 per claim. An additional $200,000 is available for structure and contents on homeowners’ claims. For more information see theFAQ section of this website or the Florida Receiver. No claim will be paid in excess of this cap. All claims are subject to a $100 deductible over and above any deductible identified in the HPIC policy. A policyholder may file a claim in the HPIC receivership for the $100 deductible and for amounts over the cap.
Claimants who need to check on the status of an existing claim should call the Florida Insurance Guaranty Association at 1-866-928-4310 (toll-free). Consumers who need to report a new claim are directed to contact their agent or contact FIGA at the referenced phone number.
You will need to have the following information available when reporting a new claim:
· Insured’s name
· Insured contact information
· Policy number
· Date of loss
· Brief description of the loss
· Police report (if applicable)
This information can be faxed to (850) 523-1888 or emailed to nclaim@agfgroup.org“What should I do after I file my claim?”All policy holders should be informed that per Section 631.68, Florida Statutes, the deadline for settling a claim or filing suit against FIGA is November 4, 2013.
Premium Refunds/Unearned Premium:
HPIC had no in-force policies as of the date of liquidation and no premium refunds are due.
For non-claim related questions regarding the receivership, consumers are asked to contact the Receiver by using the “Contact Us” form at the Receivers website, http://www.floridainsurancereceiver.org or call the Florida Department of Financial Services, as Receiver, at (800) 882-3054 or (850) 413-3081.