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SENIOR CITIZENS MUTUAL INSURANCE COMPANY

Company Information

Company Demographic Information
Name of Company:
SENIOR CITIZENS MUTUAL INSURANCE COMPANY
Case Number:2005 1069
Guaranty Association:
Florida Insurance Guaranty Association(FIGA)
Type of Coverage:
Property and Casualty
State of Domicile:
Florida
Status of Receivership:
Closed
Important Receivership Dates
Date of Rehabilitation:
May 09, 2005
Date of Liquidation:
June 01, 2005
Policy Cancellation Date:July 01, 2005
Claims Filing Deadline:
June 02, 2006
Objection Deadline:
November 15, 2010
Date of Discharge:
December 31, 2016

Notice of Receivership

​On June 1, 2005, the Second Judicial Circuit Court in and for Leon County, Florida ("Court"), issued an order placing Senior Citizens Mutual Insurance Company ("Senior Citizens") in receivership for purposes of liquidation.  Senior Citizens consented to the appointment of the Florida Department of Financial Services as the court appointed Receiver of Senior Citizens.  Senior Citizens previously consented to be placed into rehabilitation on May 9, 2005; however, the Receiver determined that a successful rehabilitation of the company was not possible. In accordance with the terms of the liquidation order, all policies in force were cancelled at 11:59 P.M. on July 1, 2005, unless otherwise cancelled earlier in the normal course of business.

Background Information
Senior Citizens was a Florida domestic insurer licensed to write business in 20 states. The company specialized in other liability and commercial multi-peril coverage for senior citizens housing communities and had approximately 15 policies in force as of May 2005. The company also reinsured approximately 600 policies written directly by two other companies. Senior Citizens' home office was located in Miami, Florida. On September 20, 2010, the First Interim Report on Claims was filed with the Court in the estate of Senior Citizens. On September 21, 2010, the Court issued an order approving the report. A total of 52 claims were filed in the Senior Citizens estate within Classes 1 through 7. On September 28, 2010, Notices of Determination "Notices") were mailed to these claimants. The Notice informed them of the Department's recommendations concerning the classification and amount of their claim, along with instructions on how to proceed if a claimant objected to the recommendations. Objections are required to be filed by the claimant, in writing, with both the Court and the Department and postmarked by November 15, 2010. Objections filed after that date were not considered. On December 31, 2012, the Department mailed distribution checks totaling $97,666.76 to Class 1-3 claimants. That amount represented 100% of the recommended amount for those claims. On October 3, 2013, the Department mailed distribution checks totaling $1,059,284.90 to Class 4, 6, & 7 claimants. That amount represented 100% of the recommended amount for those claims. On September 30, 2016, the Department mailed distribution checks totaling $1,994,488.70 to Class 10 claimants. That amount represented 100% of the recommended amount for those claims. This is the final distribution that the Department will make from this estate. On December 20, 2016, the Second Judicial Circuit Court in Leon County, Florida entered an Order discharging the Department from any and all duties, obligations, and liabilities in the administration of the Senior Citizens estate as of 11:59 P.M. on December 31, 2016. Unclaimed Property From Previous Disbursements: Pursuant to the Distribution Orders, all uncashed disbursement checks were sent to the Department of Financial Services, Division of Unclaimed Property. The Division of Unclaimed Property may be reached at: www.fltreasurehunt.org Phone:(850) 410-9253 Toll Free:1-888-258-2253 (Florida only) Florida Department of Financial Services Division of Unclaimed Property P.O. Box 1910 Tallahassee, FL 32301-1910

Estate Closed

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, 2016.