Florida-based American Capital Assurance Corp. is officially in receivership and is in the process of being liquidated after being deemed insolvent by Floridas insurance regulator earlier this month.
The Florida Department of Financial Services, which serves as the receiver for any insurer placed into receivership in Florida, said it was granted a consent order for purposes of liquidation, injunction and notice of automatic stay of AmCap on April 14 by the Second Judicial Court in Leon County, Florida.
According to DFS, under the receivership order, all insurance policies issued by AmCap in effect at the time of the courts order will be cancelled as of 12:01 am on Friday, May 14, 2021, except for the insurers floo…
Read the full article at: https://www.claimsjournal.com/news/southeast/2021/04/22/303309.htm
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