GULFSTREAM PROPERTY AND CASUALTY INSURANCE COMPANY
Company Information
| Company Demographic Information | |
| Name of Company: | GULFSTREAM PROPERTY AND CASUALTY INSURANCE COMPANY |
|---|---|
| Case Number: | 2021 CA 001308 |
| Guaranty Association: | Florida Insurance Guaranty Association(FIGA), Alabama, Louisiana, Mississippi, South Carolina, Texas |
| 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: | July 28, 2021 |
| Policy Cancellation Date: | August 27, 2021 |
| Claims Filing Deadline: | July 28, 2022 |
| Objection Deadline: | See Below |
Background Information
On July 28, 2021, Gulfstream Property and Casualty Insurance Company was ordered liquidated by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services (“Department”) is the court appointed Receiver of Gulfstream.
Gulfstream Property and Casualty Insurance Company and its wholly-owned subsidiary, Gulfstream Select Insurance Company, were merged into one entity. Gulfstream Property and Casualty Insurance Company is the surviving entity after the merger and will hereinafter be referred to as (“Gulfstream”). Gulfstream was a property and casualty insurance company located in Sarasota, Florida. The company was licensed in Florida in 2004, and authorized to write homeowners multiple peril, mobile home multiple peril, inland marine, allied lines, fire, mobile home physical damage and other liability coverage in Alabama, Florida, Louisiana, Mississippi, South Carolina and Texas. The company had approximately 45,000 in-force policies at the time of receivership.
Gulfstream Property and Casualty Insurance Company and its wholly-owned subsidiary, Gulfstream Select Insurance Company, were merged into one entity. Gulfstream Property and Casualty Insurance Company is the surviving entity after the merger and will hereinafter be referred to as (“Gulfstream”). Gulfstream was a property and casualty insurance company located in Sarasota, Florida. The company was licensed in Florida in 2004, and authorized to write homeowners multiple peril, mobile home multiple peril, inland marine, allied lines, fire, mobile home physical damage and other liability coverage in Alabama, Florida, Louisiana, Mississippi, South Carolina and Texas. The company had approximately 45,000 in-force policies at the time of receivership.
Proof of Claim Forms
On December 22, 2021, the Department mailed 2,022 Proof of Claim forms (POCs) via the U.S. Postal Service. On March 11, 2022, the Department mailed an additional 176 Proof of Claim forms (POCs) via the U.S. Postal Service. The deadline for filing a POC is July 28, 2022.
Frequently Asked Questions
What do I do if I have an uncashed Gulfstream Property and Casualty Insurance Company check drawn from the Hancock Whitney Bank?
The Gulfstream Property and Casualty Insurance Company's accounts at the Hancock Whitney Bank are closed effective February 28, 2022. Please do not attempt to negotiate any uncashed checks as they will be returned.
For assistance with uncashed checks you may contact the Department by using the Contact Us form. Someone from the Department will review your inquiry and contact you. You may also contact the Department by calling (850) 413-3081 or toll free at 1-800- 882-3054. Your inquiry will be directed to the appropriate staff member for review and handling.
For assistance with uncashed checks you may contact the Department by using the Contact Us form. Someone from the Department will review your inquiry and contact you. You may also contact the Department by calling (850) 413-3081 or toll free at 1-800- 882-3054. Your inquiry will be directed to the appropriate staff member for review and handling.
Is my insurance policy still in force?
Gulfstream policies
were cancelled at 12:01 a.m. on August 27, 2021.
Should I get an insurance policy with another 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.
FLORIDA POLICYHOLDERS:
Please contact your agent to assist you in acquiring coverage. Other Florida insurance carriers have expressed interest in offering coverage to some Gulfstream policyholders and your agent is the best person to assist you with determining your options for coverage.
ALABAMA, LOUISIANA AND SOUTH CAROLINA POLICYHOLDERS:
Centauri Specialty Insurance Company and Centauri National Insurance Company (“Centauri") have an existing agreement with Gulfstream to make an offer of replacement coverage. To learn more about the Centauri offer of coverage, contact your agent immediately.
I received a “Notice to Policyholders”. Why did I receive this Notice?
You received a Notice because your name appears as a current policyholder on the records of Gulfstream. The Notice was sent to all known current 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 Gulfstream. 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?
Unearned premiums are covered by the Guaranty Associations and your state's Guaranty Association has been activated to help pay unearned premium refunds for Gulfstream policyholders. You will receive a check for unearned premium covered by the Guaranty Association. You can find specific information about your state's Guaranty Association at:
- Alabama Insurance Guaranty Association - 205-823-4042
- Florida Insurance Guaranty Association - https://figafacts.com/
- Louisiana Insurance Guaranty Association - https://www.laiga.org/
- Mississippi Insurance Guaranty Association - https://ms-miga.com/
- South Carolina Property & Casualty Insurance Guaranty Association - http://www.scguaranty.com/
- Texas Property and Casualty Insurance Guaranty Association - http://www.tpciga.org/
Do I need to submit a Proof of Claim form to the Department in order to have my Return Premium claim processed?
No.
The Department will not require Proof of Claim forms from policyholders
who have a potential return premium claim in the estate of Gulfstream.
Potential claims include the return premium claims of policyholder claimants
who had a policy in force on the date of liquidation and all other return
premium claims who the department calculates are due return premium.
Policyholders do not need to do anything to file a timely claim for return
premium or to have their claim accepted by the Department.
How do I get my unearned premium refund if it is not covered by a guaranty fund?
It is possible your return premium claim may not be covered by your guaranty fund if the refund due is in excess of the maximum payable amount per statute or if the insured has a net worth in excess of the statutory cap.
If this is the case, you will have a claim in the estate. We will deem file the return premium claims in this estate. This means policyholders are not required to submit Proof of Claim forms in order to have a timely filed return premium claim.
What is a Guaranty Association?
A
Guaranty Association ("GA") is a nonprofit corporation statutorily
created to provide a mechanism for the payment of policy related loss claims and
unearned premium when an insurance company is liquidated.
For more information, you can find specific information about your state’s Guaranty Association at:
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/
- Louisiana Insurance Guaranty Association - https://www.laiga.org/
- Mississippi Insurance Guaranty Association - https://ms-miga.com/
- South Carolina Property & Casualty Insurance Guaranty Association - http://www.scguaranty.com/
- Texas Property and Casualty Insurance Guaranty Association - http://www.tpciga.org/
If premium was paid directly from my mortgage company to Gulfstream, 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.
When you are corresponding with the Department, be sure to reference the Company Name and your policy number and/or claim number which will allow the Receiver to associate your request with the correct Receivership.
When you are corresponding with the Department, be sure to reference the Company Name and your policy number and/or claim number which will allow the Receiver to associate your request with the correct Receivership.
I filed a lawsuit against Gulfstream prior to their entry into liquidation. Why can't the lawsuit progress?
Pursuant
to the Receivership Order and to Section 631.041(1), Florida Statutes, there is
an automatic stay in place prohibiting judicial and administrative proceedings
against the company.
When is the deadline for filing a claim in the receivership?
The
deadline for filing claims in the Gulfstream receivership is July 28, 2022.
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 Gulfstream claim?
No.
The guaranty association has 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 association
and/or you wish to make a claim directly against the Gulfstream 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 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 before Gulfstream 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.
Please complete the Contact Us Form and the Receiver will mail you a Proof of Claim form.
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.
I have flood insurance with Gulfstream. What is the status of my insurance policy?
The Gulfstream Property and Casualty Insurance Company flood book of business transitioned to the NFIP Direct for handling. You may contact the NFIP Direct by telephone at (800) 638-6620 with any policy or claims related inquiries.
I am an Agent who owes unearned commission. Where should I send the payment?
Effective October 12, 2021, payments should be sent to the following address:
For Standard Payments Only:
State of Florida
Division of Rehabilitation & Liquidation
P.O. Box 946694
Atlanta, GA 30394-6694
For Express Payments Only:
Lockbox Services - #0865694
State of Florida
Division of Rehabilitation & Liquidation
3585 Atlanta Ave.
Hapeville, GA 30354
How can I find out more information regarding the Liquidation of Gulfstream?
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 Gulfstream?
You may contact the Department at one
of the following:
- Email - Consumer.Services@myfloridacfo.com
- Web - Contact Us Form
- Phone - 850-413-3081 or toll free @ 1-800-882-3054
- By mail @ the following address:
Florida Department of Financial Services,Receiver of Gulfstream Property and Casualty Insurance Company325 John Knox Road, Atrium Building, Suite 101Tallahassee, FL 32303
How do I request a copy of a Gulfstream claim file and/or Gulfstream policy?
If you are the claimant, policyholder, or a claimant/policyholder's authorized representative, you may send a written request that includes your name, policy number, claim number, and date of loss, for your claim file/policy:
- By email to: rehab.PublicRequest@myfloridacfo.com.
- By mail to the following address:
Florida Department of Financial Services,Receiver of Gulfstream Property and Casualty Insurance Company325 John Knox Road, Atrium Building, Suite 101Tallahassee, FL 32303
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 Gulfstream Property and Casualty Insurance Company325 John Knox Road, Atrium Building, Suite 101Tallahassee, FL 32303
- By certified mail at the following address:
Florida Department of Financial Services,Receiver of Gulfstream Property and Casualty Insurance Company325 John Knox Road, Atrium Building, Suite 101Tallahassee, FL 32303
Claims Information
How do I check the status of an existing claim (all claims except Flood)?
Contact the guaranty association for the policy state involved.
- Alabama Insurance Guaranty Association - https://alaiga.com/ - 205-823-4042
- Florida Insurance Guaranty Association - https://figafacts.com/ - 800-988-1450
- Louisiana Insurance Guaranty Association - https://www.laiga.org/ - 225-757-1688
- Mississippi Insurance Guaranty Association - https://ms-miga.com/ - 601-957-0072
- South Carolina Property and Casualty Insurance Guaranty Association - http://www.scguaranty.com/ - 803-799-1560
- Texas Property and Casualty Insurance Guaranty Association - http://www.tpciga.org/ - 800-856-0298; 512-345-9335
How do I report a new claim (all claims except Flood)?
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
For flood claims, please call 1-888-481-1159.
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
For flood claims, please call 1-888-481-1159.
How do I file a claim against the estate of Gulfstream?
A
Proof of Claim form must be postmarked or submitted electronically by July
28, 2022.
How do I obtain a Proof of Claim form and filing instruction?
If you haven't received a Proof of Claim form you may contact the Department by using the Contact Us Form or by calling 1-850-413-3081 (toll free at 1-800-882-3054). The deadline for filing a POC is July 28, 2022.
When is the Department sending out proof of claim forms?
On December 22, 2021, the Department mailed 2,022 Proof of Claim forms (POCs) via the U.S. Postal Service. On March 11, 2022,
the Department mailed an additional 176 Proof of Claim forms (POCs)
via the U.S. Postal Service. The deadline for filing a POC is July 28, 2022.
Can I file a Proof of Claim form in the Gulfstream 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 July
28, 2022 will
be processed as late-filed.
Is there a Claims Bar Date?
A Claims Bar Date has not been established.
Why did I receive a Proof of Claim form?
If
you have received a Proof of Claim form, you have been identified as a
potential claimant in the estate of Gulfstream. Receiving a Proof of Claim
form does not mean that you do have a claim in the Gulfstream estate, only that
you were listed in the company records and could potentially have a
claim. Potential claimants can include loss claimants, policyholders,
general creditors, agents, claims vendors etc.
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.
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.
Am I allowed to submit a Civil Remedy Notice pursuant to the provisions of FS 624.155 that names Gulfstream after a petition for receivership has been filed?
No.
Pursuant to the receivership 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.
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 Gulfstream claim?
No. The guaranty association has 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 association and/or you wish to make a claim directly against the Gulfstream receivership estate, you must submit a Proof of Claim form to the Department.
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 | 284K |
| 09/30/2023 | Financial Statement | 284K |
| 06/30/2023 | Financial Statement | 283K |
| 03/31/2023 | Financial Statement | 283K |
| 12/31/2022 | Financial Statement | 280K |
| 09/30/2022 | Financial Statement | 275K |
| 06/30/2022 | Financial Statement | 281K |
| 03/31/2022 | Financial Statement | 283K |
| 12/31/2021 | Financial Statement | 279K |
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
| Date | Title | Size |
|---|---|---|
| 07/28/2021 | Notice to Agents or Broker Concerning Liquidation | 471K |
| 07/28/2021 | Notice to Policyholders Concerning Liquidation- FL (Spanish version) | 309K |
| 07/28/2021 | Notice to Agents or Broker Concerning Liquidation (Spanish Version) | 338K |
| 07/28/2021 | Notice to Policyholders Concerning Liquidation- Non-FL (Spanish version) | 61K |
| 07/28/2021 | Notice to Policyholders Concerning Liquidation- Non-FL | 61K |
| 07/28/2021 | Notice to Policyholders Concerning Liquidation- FL | 59K |
Other
| Date | Title | Size |
|---|---|---|
| 12/22/2021 | Proof of Claim Form Sample | 141K |