FIGA/Poe Claim Deadline is June 2, 2008

The Florida Insurance Guarantee Association (“FIGA”), has advised that the deadline for settling a claim or filing suit against FIGA relating to the now-liquidated Poe Companies is Monday, June 2, 2008.

The Florida Department of Financial Services (“DFS”) is the Receiver of the Poe Insurers as ordered by the Second Judicial Circuit Court of Leon County on June 1, 2006. In the event of insurer liquidation, FIGA is available to help pay outstanding claims.

The Poe Companies were comprised of Atlantic Preferred Insurance Company, Florida Preferred Property Insurance Company and Southern Family Insurance Company.

Pursuant to Section 631.68, Florida Statutes, the deadline for settling a claim or filing suit against FIGA is one year after the Receiver’s claim filing deadline which, for the Poe Companies, was June 1, 2007. Since June 1, 2008 is a Sunday, the established date for settling a claim with, or filing a lawsuit against, FIGA is Monday, June 2, 2008.

FIGA will not accept new mediation requests subsequent to June 2, 2008, but will continue to process previously filed mediation requests that can be scheduled and finalized prior to that date. All claims must be settled by June 2, and any lawsuit also must be initiated prior to the June 2, 2008 deadline.

In situations where the request was initiated prior to June 2, 2008, the mediation has taken place and a settlement amount has been agreed to, FIGA will still process the settlement check.

For more information regarding claims information related to the Poe Companies, click here.

Please note that there could be circumstances which could affect the application of the above standards to any particular case. Accordingly, it is imperative that any party with a claim immediately consult with counsel in order to determine that party’s rights and responsibilities in this regard.

 

Should you have any questions or comments, please do not hesitate to contact this office.

 

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