FLORIDA TRANSPORTATION BUILDERS' ASSOCIATION MUTUAL, INC.
|Company Demographic Information|
|Name of Company:||FLORIDA TRANSPORTATION BUILDERS' ASSOCIATION MUTUAL, INC.|
|Case Number:||99 4481|
|Guaranty Association:||Florida Workers’ Compensation Insurance Guaranty Association|
|Type of Coverage:||Property and Casualty|
|State of Domicile:||Florida|
|Status of Receivership:||Closed|
|Important Receivership Dates|
|Date of Rehabilitation:||August 13, 1999|
|Date of Liquidation:||January 03, 2000|
|Policy Cancellation Date:||January 31, 2000|
|Claims Filing Deadline:||January 01, 2001|
|Objection Deadline:||See Below|
|Date of Discharge:||December 31, 2012|
Notice of Receivership
On January 3, 2000, a Consent Order of Liquidation was entered regarding FTBA Mutual, Inc. All insurance contracts not previously transferred to Clarendon National Insurance Company were ordered by the Court to be cancelled no later than January 31, 2000. Proof of claim forms were mailed to all known potential claimants on May 11, 2000. The deadline for filing a claim with the Receiver was January 1, 2001.
On August 21, 2008, the Court issued an Order approving the First Interim Claims Report and Recommendations on Claims. On September 4, 2008, notices were mailed to 420 FTBA claimants informing them of the Receiver's recommendations concerning the classifications and amounts on their claims, along with instructions on how to proceed if a claimant objects to the recommendations. Objections were required to be filed by the claimant, in writing, with both the Court and the Receiver and postmarked by September 30, 2008. Objections filed after that date were not considered.
On December 28, 2012, the Court issued an Order that discharged the Florida Department of Financial Services of its duties as Receiver of Florida Transportation Builders’ Association Mutual, Inc. effective December 31, 2012.
The Receiver provided as Early Access funds to the Florida Workers’ Compensation Insurance Guaranty Association a total of $48,410,644.49. Another $2,568,003.73 was paid as claims to the guaranty association. The total distribution in this estate was $50,978,648.22.
The Department was discharged of all of its responsibilities in administering this estate and the estate was closed at 11:59 PM on December 31, 2012.
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