FEDNAT INSURANCE COMPANY
Company Information
| Company Demographic Information | |
| Name of Company: | FEDNAT INSURANCE COMPANY |
|---|---|
| Case Number: | 2022 CA 001688 |
| Guaranty Association: | Alabama, Florida, Mississippi, South Carolina, Texas, Georgia, Louisiana |
| Type of Coverage: | Property and Casualty |
| State of Domicile: | Florida |
| Status of Receivership: | Liquidation |
| Important Receivership Dates | |
| Date of Rehabilitation: | N/A |
| Date of Liquidation: | September 27, 2022 |
| Policy Cancellation Date: | October 27, 2022 |
| Claims Filing Deadline: | September 27, 2023 |
| Objection Deadline: | See Below |
Background Information
FedNat was a property and casualty insurance company located in Sunrise, Florida. The company was licensed in Florida in 1984, and authorized to write homeowners multiple peril, fire, allied lines, other liability, private passenger auto liability, and boiler and private passenger auto physical damage in Alabama, Florida, Georgia, Louisiana, Mississippi, South Carolina and Texas. The company had approximately 13,000 in-force policies at the time of receivership.
Proof of Claim Information
Proof of Claim Forms
On February 9, 2023, the Department mailed 5,723 Proof of Claim forms (POCs) via the U.S. Postal Service. The deadline for filing a POC was September 27, 2023.
Frequently Asked Questions
Is my insurance policy still in force?
FLORIDA
Prior to liquidation, FedNat entered into an Assumption Agreement with Monarch National Insurance Company (“Monarch") whereby Monarch assumed all obligations for FedNat Florida policies assumed by Monarch as of June 1, 2022. The liquidation of FedNat does not affect the Monarch assumed policies.
ALABAMA, MISSISSIPPI, SOUTH CAROLINA
(who Accepted/Accept Novation with Sure prior to October 27, 2022)
Prior to liquidation, FedNat entered into an Assumption Reinsurance Agreement with SureChoice Underwriters Reciprocal Exchange (“Sure") whereby Sure would offer replacement coverage through novation for FedNat policyholders in the above states as of July 1, 2022. Policyholders who accepted the Sure novation prior to liquidation; or those who accepted novation prior to October 27, 2022, were not affected by the FedNat liquidation.
ALABAMA, MISSISSIPPI, SOUTH CAROLINA
(Who Transitioned to Sure on October 27, 2022)
The Department entered into a Transition Plan with SureChoice Underwriters Reciprocal Exchange (“Sure"), whereby Sure would provide replacement insurance coverage to all non-novated Alabama, Mississippi, and South Carolina FedNat policyholders. Under the Transition Plan, FedNat policies canceled on October 27, 2022 at 12:01 a.m. and were immediately replaced by Sure.
TEXAS
(who Accepted Novation with Sure prior to October 27, 2022)
Prior to liquidation, FedNat entered into an Assumption Reinsurance Agreement with SureChoice Underwriters Reciprocal Exchange (“Sure") whereby Sure offered replacement coverage through novation for FedNat policyholders in the above states as of July 1, 2022. Policyholders who accepted the Sure novation prior to liquidation; or those who accepted novation prior to October 27, 2022, were not affected by the FedNat liquidation.
TEXAS
(Who Transitioned to Sure on October 27, 2022)
The Department entered into a Transition Plan with SureChoice Underwriters Reciprocal Exchange (“Sure"), whereby Sure would provide guaranteed replacement insurance coverage to non-novated Texas FedNat policyholders. Under the Transition Plan, FedNat policies canceled on October 27, 2022 at 12:01 a.m. and were immediately replaced by Sure.
TEXAS POLICYHOLDERS WITH MAISON INSURANCE COMPANY
Prior to liquidation, FedNat merged with Maison Insurance Company “Maison" with FedNat being the surviving entity. Texas policyholders with Maison coverage were cancelled effective October 27, 2022 at 12:01 am.
Should I get an insurance policy with another company?
FLORIDA
Prior to liquidation, FedNat entered into an Assumption Agreement with Monarch National Insurance Company (“Monarch") whereby Monarch assumed all obligations for FedNat Florida policies as of June 1, 2022. The liquidation of FedNat did not affect the Monarch assumed policies.
ALABAMA, MISSISSIPPI, SOUTH CAROLINA
Your policy either transitioned to Sure through a novation prior to liquidation; or you accepted novation prior to October 27, 2022, and therefore were not affected by the FedNat liquidation. If you did not accept coverage with Sure then your agent is best able to advise you as to your insurance options. To assist your agent and you in this process, we have notified your agent directly.
TEXAS
Your policy either transitioned to Sure through a novation prior to liquidation; or you accepted novation prior to October 27, 2022, and therefore were not affected by the FedNat liquidation. If you did not accept coverage with Sure then your agent is best able to advise you as to your insurance options. To assist your agent and you in this process, we have notified your agent directly.
TEXAS POLICYHOLDERS WITH MAISON INSURANCE COMPANY
Yes. Your agent is best able to advise you as to your insurance options. To assist your agent and you in this process, we have notified your agent directly of the cancellation of your policy.
I have flood insurance with FedNat. What is the status of my insurance policy?
Your flood policy is still active. You may contact National Flood Services with any policy or claims related inquiries.
Flood Customer Service - 1-800-219-3102
Flood Claims - 1-800-759-8656
What do I need to do if I have an uncashed check from FedNat or Maison?
Please see the information below for additional non-cashed check information:
| BANK NAME | ENTITY NAME | BANK ACCOUNTS (last 4 digits) | NEXT STEPS (see below) |
| Wells Fargo Bank - Claims | FedNat | 5262 | 1 |
| Wells Fargo Bank - Operating | FedNat | 5291 | 3 |
| Wells Fargo Bank - Refund | FedNat | 5314 | 2 |
| Wells Fargo Bank - Links - Claims | FedNat | 5343 | 1 |
| Wells Fargo Bank - Homeowners Claims | FedNat | 5563 | 1 |
| Wells Fargo Bank - Refund | FedNat | 5602 | 2 |
| Wells Fargo Bank - SGA - Claims | FedNat | 0823 | 1 |
| Wells Fargo Bank - Jupiter - Claims | FedNat | 7037 | 1 |
| Wells Fargo Bank - Operating | Maison | 2304 | 3 |
| Wells Fargo Bank - Claims | Maison | 2320 | 1 |
| Wells Fargo Bank - Refund | Maison | 2338 | 2 |
| HANCOCK WHITNEY - Claims | Maison | 9476 | 1 |
NEXT STEPS CODE:
- If the check is for damages regarding a loss claim, your information will be forwarded to a guaranty association for consideration. If the check is for claims expenses (legal fees, appraisers, adjusters, etc.), the Department will send you a proof of claim form.
- If the check is for an unearned premium refund, your information will be forwarded to a guaranty association for consideration.
- The Department will send you a proof of claim form.
What do I need to do to be reimbursed for bank fines, penalties or NSF fees I have been charged in trying to cash my checks?
You will have the opportunity to file a claim in the estate for any bank fines, penalties or NSF fees you have been charged when trying to negotiate a FedNat or Maison check.
I received a "Notice to Policyholders". Why did I receive this Notice?
You received a Notice because your name appeared as a policyholder on the records of FedNat. The Notice was sent to all known policyholders informing them of the receivership. See the Notices section of the Related Documents displayed in this website.
I received a "Notice to Agent or Broker". Why did I receive this Notice?
You received a Notice because our records indicate that you were an agent of FedNat. The Notice was sent to all known agents of record informing them of the receivership. See the Notices section of the Related Documents displayed in this website.
How will I get my unearned premium refund?
- FLORIDA
Contact Monarch National Insurance Company at the following:
Customer Service: 1-800-293-2532
Customer Service Email: uwinfo@monarchnational.com
- ALABAMA, MISSISSIPPI, SOUTH CAROLINA
Contact SureChoice Underwriters Reciprocal Exchange at the following:
Customer Service: 1-888-346-6907 (9:00 a.m. - 6:00 p.m., Monday through Friday)
- TEXAS -FED NAT
Contact SureChoice Underwriters Reciprocal Exchange at the following:
Customer Service: 1-888-346-6907 (9:00 a.m. - 6:00 p.m., Monday through Friday)
- TEXAS POLICYHOLDERS WITH MAISON INSURANCE COMPANY
Unearned premiums are covered by the Guaranty Associations and your state's Guaranty Association has been activated to help pay unearned premium refunds for FedNat policyholders. The Department is currently gathering premium data to forward the information to the appropriate state's insurance guaranty association. As a result, there will be a delay in premium processing during this transitional period. The Department's website, www.myfloridacfo.com/division/receiver, will be updated once the transition is completed.
Do I need to submit a Proof of Claim form to the Department in order to have my Return Premium claim processed?
No.
What is a Guaranty Association?
For more information, you can find specific information about your state's Guaranty Association at:
- Alabama Insurance Guaranty Association - https://alaiga.com/
- Florida Insurance Guaranty Association - https://figafacts.com/
- Georgia Insurers Insolvency Pool -
https://www.gaiga.org
- Louisiana Insurance Guaranty Association - https://www.laiga.org/
- Mississippi Insurance Guaranty Association - https://ms-miga.com/
- South Carolina Property and Casualty Insurance Guaranty Association - https://www.scguaranty.com/
- Texas Property and Casualty Insurance Guaranty Association - https://www.tpciga.org/
If premium was paid directly from my mortgage company to FedNat, will the refund be returned to the mortgage company?
Premium refunds will be sent directly to policyholders.
I have recently changed my name or mailing address and need to update the company’s records to make sure I receive any information mailed to me. What should I do?
It is your responsibility to notify the Department, in writing, if there is a change in your name or mailing address. You can download the appropriate form and instructions from the Receiver's website, www.myfloridacfo.com/division/receiver. Click on the link titled “File a Name and/or Address Change" or click here to go directly to the information.
I filed a lawsuit against FedNat prior to its entry into receivership. Why can't the lawsuit progress?
Pursuant to the Liquidation Order and to Section
631.041(1), Florida Statutes, there is an automatic stay in place prohibiting
judicial and administrative proceedings against the company.
Who do I call for non-claims related questions?
If you have any non-claims related questions regarding the receivership, please contact the Department at Consumer.Services@myfloridacfo.com or by calling (850) 413-3081 or toll free at 1-800-882-3054.
How can I find out more information regarding the Liquidation of FedNat?
The most up to date information is posted on the website. The Department will continue to post information to its website as more information becomes available.
How do I contact the Florida Department of Financial Services which is the court-appointed Receiver of FedNat?
You may contact the Department at one of the following:
- Email - Consumer.Services@myfloridacfo.com
- Web - Contact Us Form @ www.myfloridacfo.com/division/receiver
- Phone - 850-413-3081 or toll free @ 1-800-882-3054
- Mail - Florida Department of Financial Services,
Receiver of FedNat Insurance Company
325 John Knox Road, Atrium Building, Suite 101
Tallahassee, FL 32303
How do I request a copy of a FedNat claim file and/or FedNat policy?
If you are not the claimant, policyholder, or the claimant/policyholder's authorized representative, you will need to serve a subpoena for the claim file/policy on the Department that includes the claimant/policyholder's name, the policy number, the claim number, and the date of loss:
-
By process server at the following address:
Florida Department of Financial Services,
Receiver of FedNat Insurance Company
325 John Knox Road, Atrium Building, Suite 101
Tallahassee, FL 32303
-
By certified mail at the following address:
Florida Department of Financial Services,
Receiver of FedNat Insurance Company
325 John Knox Road, Atrium Building, Suite 101
Tallahassee, FL 32303
Am I allowed to submit a Civil Remedy Notice pursuant to the provisions of FS 624.155 that names FedNat after a petition for receivership has been filed?
No. Pursuant to the Liquidation Order and to Section 631.041(1), Florida Statutes, there is an automatic stay in place prohibiting the commencement or continuation of judicial, administrative or other action against the company.
Claims Information
How do I check the status of an existing claim?
FLORIDA POLICYHOLDERS
-
If your policy was not assumed by Monarch
With the entry of the Liquidation Order, the Florida Insurance Guaranty Association ("FIGA") was activated to help pay outstanding claims for FedNat policies.
The Department is currently gathering claim files and claim data to forward the information to FIGA. As a result, there may be a delay in claim processing during this transitional period. Please continue to contact FedNat using the contact information below to check the status of an existing claim or to file a new claim. The Department's website, www.myfloridacfo.com/division/receiver, will be updated as appropriate regarding the claim transfer process.
-
If your policy was assumed by Monarch
Prior to liquidation, Monarch National Insurance Company ("Monarch") assumed all obligations for approximately 78,000 FedNat Florida policies. Policyholders with questions regarding Monarch should visit the company's website at https://monarchnational.com/ or contact the company directly as follows:
Monarch National Insurance Company Direct Contact Information:
Customer Service: 1-800-293-2532 Customer Service Email: uwinfo@monarchnational.com
ALABAMA, LOUISIANA, MISSISSIPPI, AND SOUTH CAROLINA POLICYHOLDERS
-
For losses incurred prior to 12:01 a.m. July 1, 2022
With the entry of the Liquidation Order, the applicable Guaranty Associations were activated to help pay outstanding claims for FedNat policies.
The Department is currently gathering claim files and claim data to forward the information to applicable GAs. As a result, there may be a delay in claim processing during this transitional period. Please continue to contact FedNat using the contact information below to check the status of an existing claim or to file a new claim incurred prior to July 1, 2022. The Department's website, www.myfloridacfo.com/division/receiver, will be updated as appropriate regarding the claim transfer process. -
For losses incurred on or after July 1, 2022
The GAs will not pay any claims occurring on or after 12:01 a.m. on July 1, 2022, for FedNat policyholders whose policies were assumed/transitioned to Sure. Policyholders with questions should visit the company's website at https://www.sureins.com or contact the company directly as follows:
SureChoice Underwriters Reciprocal Exchange - Direct Contact Information:
Customer Service: 1-888-346-6907 (9:00 a.m. - 6:00 p.m., Monday through Friday)
GEORGIA POLICYHOLDERS
Policyholders with questions regarding FedNat should contact the company directly as follows:Claims: 1-800-293-2532
TEXAS FEDNAT POLICIES
- FedNat Policies for losses incurred prior to 12:01 a.m. July 1, 2022
With the entry of the Liquidation Order, the Texas Property and Casualty Insurance Guaranty Association (“TPCIGA") was activated to help pay outstanding claims for FedNat policies.
The Department is currently gathering claim files and claim data to forward the information to TPCIGA. As a result, there may be a delay in claim processing during this transitional period. Please continue to contact FedNat using the contact information below to check the status of an existing claim or to file a new claim incurred prior to July 1, 2022. The Department's website, www.myfloridacfo.com/division/receiver, will be updated as appropriate regarding the claim transfer process. - FedNat Policies for losses incurred on or after July 1, 2022
The GAs will not pay any claims occurring on or after 12:01 a.m. on July 1, 2022, for FedNat policyholders whose policies were assumed/transitioned to Sure. Policyholders with questions should visit the company's website at https://www.sureins.com or contact the company directly as follows:
SureChoice Underwriters Reciprocal Exchange - Direct Contact Information:
Customer Service: 1-888-346-6907 (9:00 a.m. - 6:00 p.m., Monday through Friday)
TEXAS MAISON POLICIES
Until further notice, policyholders with questions regarding FedNat should continue to visit the company's website at https://www.fednat.com/ or contact the company directly as follows:
Customer Service: 1-954-308-1200 Claims: 1-800-293-2532
The Department is currently gathering claim files and claim data to forward the information to the appropriate state guaranty association. As a result, there may be a slight delay in claim processing during this transitional period.
How do I report a new claim?
Complete the following form that matches the type of loss you are reporting:
- ACORD Form 1 Property Loss Notice
- ACORD Form 2 Automobile Loss Notice
- ACORD Form 3 Liability Notice of Occurrence Claim
Submit your form:
Fax Submission: Fax: 850-413-3997
Online Submission:
Electronic Submission Instructions - New Claims
Paper Submission: Mail your submission to the below address. It is recommended that you use certified mail with return receipt to prove delivery of the information.
Florida Department of Financial Services, Receiver
325 John Knox Road, Atrium Building, Suite 101
Tallahassee, FL 32303
How do I file a claim against the estate of FedNat?
Proof of Claim forms will be mailed to all known claimants in the estate. A Proof of Claim form must be postmarked or submitted electronically by Claims Filing Deadline of September 27, 2023.
When is the deadline for filing a claim in the receivership?
The deadline for filing claims in the FedNat receivership was September 27, 2023.
How do I obtain a Proof of Claim form and filing instruction?
The Department mailed Proof of Claim forms to insureds and/or claimants on February 9, 2023. If you haven't received a Proof of Claim form by April 20, 2023, please use the "Contact Us" form available from the Receiver's website at www.myfloridacfo.com/division/receiver/ or by calling 1-850-413-3081 (toll free at 1-800-882-3054). In the Contact Us form, select: Issue type: "Mail Outs"; Request Type: "Proof of Claim Form Request" The deadline for filing a POC is September 27, 2023.
Can I file a Proof of Claim form in the FedNat estate after the filing deadline? Will it be considered late-filed?
Yes, you may file a Proof of Claim form. However, any form postmarked after September 27, 2023 will be processed as late-filed.
If I have already filed a claim with FedNat, will the Receivership affect the status of my claim?
Is there a Claims Bar Date?
A Claims Bar Date has not been established.
Do I need to submit a Proof of Claim form to the Department in order to have the guaranty association make payments on my pending FedNat claim?
The guaranty associations have access to the company claim files and will review your claim to determine if it is a covered claim on which payments may be due. If you are not certain that your claim is covered by the guaranty associations and/or you wish to make a claim directly against the FedNat receivership estate, you must submit a Department's Proof of Claim form to the Department.
Do I need to submit a Proof of Claim form to the Department in order to have my invoices for claim related expenses paid?
Yes. If you have unpaid invoices for services related to specific claim files (IME, copy charges, legal defense fees, damage estimation, appraisers, adjusting etc.) your claim is considered a General Creditor, Class 6 claim. A guaranty association does not usually cover these. There may be insufficient assets to pay these types of claims, however, you must file a Department's Proof of Claim form to have your claims considered. These types of claims are most often considered Master Claims as they involve more than one invoice.
How and when do I submit my invoices for claim related expenses?
If you have unpaid invoices for services related to specific claim files as described above, please submit them as supporting documentation with your Proof of Claim form. Submission instructions will be provided on the Proof of Claim form.
Do I need to submit a Proof of Claim form to the Department in order to have my commissions (Agents) or General Creditor claims paid?
Yes. Agent's commission claims and general creditor claims are not covered by a guaranty association but may be filed as claims in the receivership estate. There may not be sufficient assets to pay this priority of claims; however, you must file a Proof of Claim form to have your claim considered.
I am owed money for services provided to FedNat before it was ordered into liquidation. What is the procedure for payment of these claims?
Claims which were not paid will be considered as claims against the estate and processed by the Receiver. Please complete the "Contact Us Form" and the Receiver will mail you a Proof of Claim form.
How are claims paid in a receivership?
The payment of claims in a receivership are paid in priority order as defined by Florida Statutes, Chapter 631. The only assets available for distribution are the assets of the company.
When will my claim be paid and how much will I receive?
The amount of any potential payment is unknown until after the amount of all liabilities have been established and all reasonable efforts to recover and liquidate assets have been exhausted. Please be advised that it may take several years before a distribution of assets, if any, is made in this receivership, due to collection efforts and litigation.
Who do I contact for additional claims related questions?
If you have additional claims related questions regarding the receivership, please contact the Department at Consumer.Services@myfloridacfo.com or by calling (850) 413-3081 or toll free at 1-800-882-3054.
Financial Statements
The following documents are provided as Adobe Acrobat PDF files and are best viewed using the free Adobe Acrobat reader software.
| Date | Title | Size |
|---|---|---|
| 12/31/2023 | Financial Statement | 528K |
Related Documents
The following documents are provided as Adobe Acrobat PDF files and are best viewed using the free Adobe Acrobat reader software.
Court Documents
Notices
Other
| Date | Title | Size |
|---|---|---|
| 02/09/2023 | Proof of Claim Form Sample | 738K |