FedNat
InsuranceFlorida, United States201-500 Employees
FedNat Insurance Company, based in Fort Lauderdale, Florida, operates in the insurance industry. In September 2022, the Florida Office of Insurance Regulation placed FNIC into receivership, and the Florida Department of Financial Services now oversees its operations, including bank accounts. A Liquidation Order exists, and the DFS is guiding the transition, with claim files and data being gathered for transfer to applicable guaranty associations, which may cause a short delay in claim processing. Guaranty Associations are nonprofit entities created to ensure payment of policy-related loss claims and unearned premiums when an insurer is liquidated. The information indicates the DFS is coordinating the use of these associations to resolve claim obligations during the transition. Florida Insurance Guaranty Association is cited as the applicable mechanism in this context, illustrating how policyholders are supported during resolution.