Harrell Insurance Logo

407.846.6421
Menu
Home Get A Quote Customer Service Blog Make a Payment Secure File Area Refer a Friend Important Links Calculators Insurance Glossary About Harrell Agency Services Location Map Employee Directory Privacy Policy Contact Us Join Our Newsletter
Social Media
Social
  • Home
  • Get A Quote
    • Automobile
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
      • Workers Compensation Quote
    • Flood
    • HomeownersImage of right arrow
      • Homeowners Insurance Quote
      • Manufactured Home Quote
      • Homeowner Flood Quote Form
      • Tapestry Home Insurance Quote Form
    • LifeImage of right arrow
      • Life Insurance Quote
      • Term Life Insurance Quote
    • Motorcycle
    • Recreational Vehicle
    • Renters
    • Watercraft & Boat
  • Customer Service
    • Business & CommercialImage of right arrow
      • Request ID Card for Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Add Driver to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Request General Liability Certificate of Insurance
    • Other
  • Blog
  • Make a Payment
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Calculators
    • Insurance Glossary
  • About Us
    • About Harrell Agency Services
    • Location Map
    • Employee Directory
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter


postheader
Auto
Insurance
postheader
Home
Insurance
postheader
Business
Insurance
postheader
Boat
Insurance
postheader
Motorcycle
Insurance
postheader
RV
Insurance
Home > Blog > What Receivership of Your Homeowner’s Insurance Policy Means for You
TUESDAY, OCTOBER 8, 2019

What Receivership of Your Homeowner’s Insurance Policy Means for You

a person sitting at a table using a laptop computer

 

When researching the best policies, we take the time to make sure that we match you with a policy that is reputable and long-lasting. Unfortunately, sometimes insurance companies may be ordered into receivership, which will cause your policy to be terminated. According to Investopedia.com, “receivership is a step in which a trustee is legally appointed to act as the custodian of a company's assets or business operations. Receivership is used to restructure a company and avoid bankruptcy, if possible.”


This is the case for a local company, Florida Specialty Insurance Company. They have released the official statement below.


“Liquidation of Florida Specialty Insurance Company

Effective October 2, 2019, Florida Specialty Insurance Company ("FSIC") was ordered into receivership for purposes of liquidation by the Second Judicial Circuit Court in and for Leon County, Florida. The Florida Department of Financial Services ("Department") is the court-appointed Receiver.

FSIC was a property and casualty insurance company located in Sarasota, Florida. The company was licensed in Florida in 1997 and wrote personal property insurance policies for homeowners, condos, renters, and manufactured homes.

All FSIC policies are canceled effective 12:01 a.m. on November 1, 2019, unless otherwise terminated prior to that date. Policyholders are encouraged to discuss options with their agents as they are best able to advise them as to their insurance options.”

 

We understand how upsetting it is to receive a message that your policy will be canceled in less than 30 days. Nonetheless, here at Harrell Insurance, we are here to help! We will make it our mission to find you an insurance policy that will meet all of your needs and be as comparable in price as we can find.

Do you have questions on how receivership works and the steps you need to take if this happens to you? Reach out to us, and we will help ensure that you have a homeowner’s insurance policy in effect. 

 

get a homeowners quote


Posted 5:28 PM

Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015

  • homeowners insurance(8)
  • car insurance(4)
  • hurricane season(2)
  • boat insurance(1)
  • harrell insurance(1)
  • homeowners(1)
  • rv insurance(1)
  • independent insurance agent(1)

View Mobile Version

HOME PAGE ABOUT US GET A QUOTE REFER A FRIEND LOCATION CONTACT US

28 Broadway, Ste 202 | Kissimmee, FL 34741 | 407.846.6421

Logo
Powered by Insurance Website Builder
Social Facebook Twitter Google+ Blog