American Keystone Insurance Company Ordered into Receivership for Purposes of Liquidation
Oct 12, 2009
American Keystone Insurance Company has been ordered into “receivership for the purposes of liquidation” by the Leon County Circuit Court today, October 12, 2009. The Florida Department of Financial Services (“DFS”) has been appointed as the receiver. To view a copy of Judge John C. Cooper’s Order, click here.
Because all American Keystone Insurance policies will be cancelled at 11:59 p.m. on November 8, 2009, the DFS is advising policyholders to contact their insurance agent as soon as possible in order to secure coverage with a new company.
For more information on the matter from the DFS Division of Rehabilitation and Liquidation, click here.
The DFS press release about today’s Circuit Court Order is reprinted below.
Should you have any questions or comments, please contact Colodny Fass.
American Keystone Insurance Company Ordered Into Receivership For Liquidation
American Keystone Policyholders Encouraged to Secure New Coverage with Agent
TALLAHASSEE-Leon County Circuit Court Judge John C. Cooper has ordered American Keystone Insurance Company based in Ponte Vedra Beach into receivership for the purpose of liquidation. The Florida Department of Financial Services is appointed Receiver.
Floridians who have homeowners insurance with American Keystone should immediately contact their insurance agent to secure coverage with a new company. All policies will be cancelled effective 11:59 p.m. on November 8, 2009, unless otherwise terminated prior to that date.
“Given that this liquidation order comes during hurricane season, it is imperative that homeowners who have coverage with American Keystone immediately contact their agents to secure new coverage,” said Florida CFO Alex Sink. “We will continue working diligently to help make the transition as smooth as possible for policyholders.”
Consumers with questions relating to American Keystone policy and coverage issues should call the company’s customer service department at 1-877-350-9777 until November 8. Questions relating to claims should be directed to the Florida Insurance Guaranty Association (FIGA) at 1-866-928-4310 or the policyholder’s agent.
American Keystone, a Florida corporation licensed in 2007, primarily wrote homeowners, condominium unit owners, personal inland marine, and residential condominium association policies in the state. The company has approximately 7,800 policies in force, including homeowners, commercial, residential and wind policies.
The liquidation order and other related information can be found at http://www.MyFloridaCFO.com/Receiver/. For any other questions, Floridians can call CFO Sink’s Insurance Consumer Helpline at (850)413-3089 or toll-free at 1-877-My-FL-CFO or visit www.MyFloridaCFO.com.
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