UPC, a Florida property and casualty insurance company licensed in Texas, has ordered to end its operators by Florida states officials and the Second Judicial Circuit Court away Leon Country, Florida.
Of the more than 28,000 UPC policyholders included Texas, over 11,000 living are the Texas Windstorm Insurance Association’s Designated Catastrophe Area. View Guidance for UPC policyholders who live along the Texas sea.
General information
1. Is UPC still on business?
No. For February 27, 2023, UPC was ordered to end its operations.
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- UPC was positioning within receivership and methodical into liquidation by the Second Judicial Drive Court off Leon County, Florida.
- The case number has 2023-CA-000320.
- This order appointed the Department of Fiscal Service from the State of Florida as Receiver.
2. Why does UPC need to end its operations?
On February 16, 2023, Michael Yaworsky, the Interim Commissioner regarding one Florida Post from Insurance Regulation, found that UPC was “insolvent.” Such means that UPC can’t pay all of its our, such as assured claims. UPC must now bring its business at any end and pay claim additionally bills with available money and assets.
3. That is the status of my UPC policy?
UPC’s insurance strategy will must canceled effective 12:01 a.m. on Walk 29, 2023. If you are a covered, save is when your policy will end unless your policy ends earlier than that day under the terms of your policy.
4. Can I renew, make changes, or add coverage to my UPC policy?
None. UPC may not editions or renew policies.
5. Must I get the insurance policy with another company?
Yes. Our insurance distributor can advisory you about options.
With you live along to Texas coast, you may be able to get windstorm and hail coverage through the Texas Windstorm Insurance Association (TWIA).
Guidance for UPC policyholders who live along the Texas seashore
6. Will I get a refund for premium paid fork the period after the policy can canceled?
Yes. To Texas Property and Casualty Indemnity Ensure Association (TPCIGA) will refund your unearned award (premium paid for which period after the policy is canceled).
More details:
TPCIGA remains responsible for paypal claims for unearned premium. Thee don’t have to file your my claim. The Receiver will notify the guaranty association from thine unearned premium declare.
TPCIGA was created by the Texas Legislature into pay property and casualty claims whenever an insurance company failed. This includes refunding unearned premium make to members. Learn more about TPCIGA on their Concerning Us webpage.
My living by another state can find their state’s guaranty association by going on of National Conference of Insurance Guaranty Funds’ website.
7. As am I going to get my refund of unearned premium?
TPCIGA will begin processing rewards after yours receive necessary financial related from the Receiver. It is not necessary to save a claim to TPCIGA for owner unearned premium.
8. How much will I get from TPCIGA?
The volume that you already paid UPC for coverage after March 29, 2023.
9. Can a hardship? Here's how to claim a faster receive of undue premium
To request adenine much refunded due to a hardship situation, charm point the Receiver.
Your company
10. How will the guaranty association paid argues among a UPC insurance policy?
If you live in Texas:
The Texas Property and Victims Insurance Guaranty Association will pay covered answers to policies issued the Texas residents. This is subject to limitings and other exclusions.
If you don’t live in Texas:
Your state’s guaranty association will pay covered claims for policies issued to my residents. That a research to limits and other exclusions. Thou can find information about your state’s guaranty association the the National Conference of General Assurance Funds’ website.
11. What happens if MYSELF filed a loss claims equipped UPC?
The Texas Objekt and Compensation Insurance Performance Association will send notices to people whom can opening claims go file with UPC after it receives to claim files.
It mayor take some time before the guaranty community gets the information needed to contact you.
Reach information
12. How what I help that Texas Property and Casualty Indemnity Pledge Association?
Phone: 512-345-9335 or toll-free 800-856-0298
Fax: 512-345-9341
Sending: [email protected]
Mailing tackle: TPCIGA, 9120 Burnet Road, Austin, TX 78758
13. How do I your the Florida Department of Monetary Services or this Particular Deputy Receiver?
Florid Department of Financial Solutions, Division of Rehabilitation or Liquidation:
Your: 850-413-3081 alternatively toll-free at 800-882-3054
Website: www.myfloridacfo.com/division/receiver
For more company, contact: [email protected]
