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Lighthouse / St. Johns Insurance / Gulfstream P&C Insolvency FAQs

What agents need to know

2P02b-Lighthouse-w.pngLast updated May 20, 2022

Allied Trust notice - May 16.pdf

Lighthouse_OrderOfLiquidationAndFindingOfInsolvency.pdf

NOTICE TO SOUTH CAROLINA POLICYHOLDERS.pdf


What happened to Lighthouse Property Insurance Corporation (Lighthouse)?
Lighthouse agreed to an order of liquidation from the Louisiana Department Insurance. As part of the liquidation order, ALL remaining active Lighthouse Property Insurance Corp. policies will be cancelled effective 11:59 p.m. on May 28, 2022.


Where can I get more information?
The Louisiana Department of Insurance has appointed Bostick/Crawford Consulting Services to administer the liquidation. You may email the receiver at billy.bostick@bccg.com or (225) 201-0107.

 

How do I report a new property and casualty claim?
Please call 888-544-4885 to report a new claim.

 

Who do I contact regarding existing Lighthouse Claims?
Contact the South Carolina Guaranty Association at 803-799-1560 and follow the prompts to reach a claims examiner.

 

Will insureds get their unearned premium back?
Yes – the South Carolina Guaranty Association will refund unearned premium back to insureds less the $100 statutory retention as required by state law.

 

Does the insured have to make a claim for unearned premium?
No – insureds/agents do NOT need to file a claim for unearned premium. The Receiver will provide the South Carolina Guaranty Association with policy cancellation status and return premium information 60 – 90 days after the date of the Order of Liquidation. Refund checks will be automatically processed to insureds by the SC Guaranty Fund.

 

When will insureds receive refund checks?
Unsure – the timetable for processing refunds depends on several factors – all of which have very fluid timelines. As soon as the South Carolina Guaranty Association receives the data, they will start processing the checks.

 

Will agents owe unearned commission back to Lighthouse?
Yes – agents will receive notices from the Louisiana Department of Insurance (or their liquidation office) with information and instructions on how to return commission from unearned premiums.

 

What is the status of current Lighthouse policies?
ALL Lighthouse policies will cancel effective 11:59 p.m. on May 28, 2022 unless they are cancelled earlier by the insured/agent.

 

Will another insurance carrier assume the Lighthouse policies?
Yes - Allied Trust Insurance Company has been approved by the SC Department of Insurance to assume the Lighthouse policies on May 28, 2022. 

Read the notice at the top of this page that was sent to Lighthouse agents on May 16.

Final authority for Allied Trust to assume Lighthouse policies requires court approval in Louisiana.

What if my insured does not want the Allied Trust policy?
The insured always has the right to cancel their policy and move to another insurance company. If an insured chooses to change insurance companies prior to May 28, the agent should coordinate cancellation of the current policy with Lighthouse.


Can the SC Guaranty Association cancel a Lighthouse policy?

NO - the SC Guaranty Association does not have the authority or ability to cancel a current Lighthouse policy. Agents that want to cancel a Lighthouse policy on behalf of their insured should do so directly with Lighthouse.


Where can I get more information on the Allied transition?
Questions regarding Allied Trust can be directed to Chad Luaghner, Territory Manager. claughner@alliedtrustins.com or 803-337-6771.


This information has been prepared by the staff of Independent Insurance Agents & Brokers of South Carolina to assist agents that are handling Lighthouse Property Insurance policies. This information is not intended to be legal advice and is subject to change. Information will be added/updated as needed.




StJohns-logo-2019.png

Last updated March 30, 2022

Sample customer letters available to IIABSC members to help communicate carrier changes (IIABSC login required to access)


St Johns Liquidation Order.pdf

St Johns Order Approving Transition Plan.pdf

St Johns Receiver Notice to Agents - Final Draft.pdf

Policyholder welcome letter from Slide.pdf

What happened to St. Johns Insurance?
St Johns Insurance agreed to an order of liquidation from the Florida Office of Insurance Regulation effective February 25, 2022.

Are policies still in force?
Yes – all current St. Johns policies were automatically transferred to Slide Insurance Company effective 12:01 a.m. on March 1, 2022.

Who is Slide Insurance Company?
Slide Insurance is based in Tampa, FL and approved to write business in SC as a licensed, admitted insurance carrier. Slide is rated "A", Exceptional by Demotech, Inc.

Why did my insureds receive a cancellation notice?
All St. Johns policies cancelled effective 12:01 a.m. on March 1, 2022 and were automatically transferred to Slide Insurance Company. A cancellation notice for the St. Johns policy was required by law. There should have been a new declarations page for coverage with Slide in the same mailing.

Is the policy with Slide Insurance the same I had with St. Johns?
Yes – all active St. Johns policies were transferred to Slide using the same St. Johns rates and forms.

What about the premium our insured has already paid?
If the premium has been paid in full, the SC Guaranty Association will transfer the unearned portion to Slide Insurance minus a $100 deductible. If the annual premium is partially paid, future premium payments will be made to Slide.

Is my agency required to return unearned commission?
Agencies will be allowed to retain pre-paid commissions. However, agencies will be required to return unearned commissions if a policy is cancelled before expiration.

Will our agency be appointed with Slide Insurance Company?
Yes – all current St. Johns producers will receive appointments with Slide.

How do I contact Slide Insurance?
Your current company representative for St. Johns will remain as the representative for Slide. The phone number for Slide Customer Service is 1-800-748-2030.

What if my client has an active claim with St. Johns?
All active, unpaid claims and new claims occurring before March 1, 2022 will be handled and paid by the SC Property and Casualty Insurance Guaranty Association. Active claim information will be transferred to the Guaranty Association by the Florida Office of Insurance Regulation. Get more information about the SC Guaranty Association at https://www.scguaranty.com


How do I report a new property and casualty claim or check on a current claim?

You can reach SC Guaranty at:

  • For new claims with a Date of Loss prior to March 1, 2022, continue reporting to St Johns at 1-877-748-2059.
  • For new claims with a Date of Loss on or after March 1, 2022, please report to Slide at 1-866-230-3758.


Where can I get more information?
The Department of Rehabilitation & Liquidation in the Florida Office of Insurance Regulation is overseeing the liquidation – more info can be found at:

https://myfloridacfo.com/division/receiver/companies/detail/557


What if my agency is owed commission from St. Johns for premiums paid prior to March 1, 2022?

By statute, claims for unpaid commission to insurance agencies are made through the Department of Rehabilitation & Liquidation in the Florida Office of Insurance Regulation. Claims which were not paid will be considered as claims against the estate and processed by the Receiver. Please complete the "Contact Us Form" and the Receiver will mail you a Proof of Claim form.



This information has been prepared by the staff of Independent Insurance Agents & Brokers of South Carolina to assist agents that are handling St. Johns Insurance policies. This information is not intended to be legal advice and is subject to change. Information will be added/updated as needed.




gulfstream-logo-2016.png 

Last updated February 28, 2022



GULFSTREAM P&C INSOLVENCY FAQS

Unearned commission collection letters are on the way

The Division of Rehabilitation & Liquidation in the Florida Department of Financial Services plans to mail Gulfstream unearned commission collection letters on February 14, 2022. For any questions about the process, email RehabARGPCIC@myfloridacfo.com. 

Does my agency have to return unearned commission?
Yes - it is a statutory requirement that unearned commission be returned by agencies. Failure to do so will result in a court lien against the agency by the Florida Office of Insurance Regulation and disciplinary action by the SC Department of Insurance (potential loss of agency license).

What happened to Gulfstream Insurance? 

Gulfstream Insurance agreed to an order of liquidation from the Florida Office of Insurance Regulation. As part of the liquidation order, ALL remaining active Gulfstream policies will be cancelled effective 12:01 a.m. on 08‐27‐2021. 

Where can I get more information? 

The Department of Rehabilitation & Liquidation in the Florida Office of Insurance Regulation is overseeing the liquidation – more info can be found at: https://myfloridacfo.com/division/receiver/companies/detail/556

How do I report a new property and casualty claim or check on a current claim?
Contact Randy Mason at the SC Guaranty Association at (803) 744-4302.

For flood claims, contact FEMA at 1‐800‐638‐6620.

Will insureds get their unearned premium back?
Yes – the South Carolina Guaranty Association will refund unearned premium back to insureds less $100 as required by state law.

Does the insured have to make a claim for unearned premium?
No – insureds/agents do NOT need to file a claim for unearned premium. Sometime after August 27, the Florida Department of Insurance will provide the South Carolina Guaranty Association with policy cancellation status and return premium information. Refund checks will be automatically processed to insureds by the SC Guaranty Fund.

When will insureds receive refund checks?
Checks were processed and mailed in mid-October. Refund checks - minus $100 per SC statute - were mailed directly to insureds.

Will agents owe unearned commission back to Gulfstream?
Yes – agents will receive notices from the Florida Office of Insurance Regulation (or their liquidation office) with information and instructions on how to return commission from unearned premiums.

What is the status of current Gulfstream policies?
ALL Gulfstream policies will cancel effective 08‐27‐2021 unless they are cancelled earlier by the insured/agent.

Is Centauri making new offers of coverage?
Yes – Centauri was already offering Gulfstream insureds renewal offers on expiring policies. Centauri will continue to offer coverage to Gulfstream policyholders through 08‐27‐2021. For more information, contact Centauri at 866‐318‐4113.

Is the insured required to accept the Centauri offer?
No – the offer of coverage from Centauri is one possible source of replacement coverage. But insureds and agents are free to place the insured with a company that best fits the needs of the insured.

Should I wait until 08‐27‐2021 to replace a Gulfstream policy?
No – agents should work as quickly as possible to replace all current Gulfstream policies. There is no advantage to waiting , and several risks. Placing the policies with new carriers during hurricane season could be a challenge. For risks that are insured for more than $300,000, agents should be aware of the $300,000 per claim limit in the SC Guaranty Association.


Are Gulfstream flood policies included in the liquidation order?
No - flood insurance policies issued by Gulfstream through the National Flood Insurance Program are NOT cancelled early pursuant to the liquidation order (those policies would cancel on their expiration date). (see #25 in the liquidation order).


This information has been prepared by the staff of Independent Insurance Agents & Brokers of South Carolina to assist agents that are handling Gulfstream Insurance policies. This information is not intended to be legal advice and is subject to change. Information will be added/updated as needed.






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