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Company Information

Company Demographic Information
Name of Company:
Case Number:2006 CA 1198
Guaranty Association:
Florida Insurance Guaranty Association(FIGA)
Type of Coverage:
Property and Casualty
State of Domicile:
Status of Receivership:
Important Receivership Dates
Date of Rehabilitation:
Date of Liquidation:
June 01, 2006
Policy Cancellation Date:July 01, 2006
Claims Filing Deadline:
June 01, 2007
Objection Deadline:
October 15, 2012
Date of Discharge:
February 28, 2018

Company Information

​Effective June 1, 2006, the Second Judicial Circuit Court in Leon County, Florida, entered orders placing Atlantic Preferred Insurance Company, Florida Preferred Property Insurance Company, and Southern Family Insurance Company in receivership for purposes of liquidation. These companies were members of the Poe Financial Group and are referred to together as the “Poe Insurers.” The Florida Department of Financial Services is the court-appointed Receiver of the Poe Insurers. In liquidation, the Florida Insurance Guaranty Association was activated to help pay outstanding claims of the Poe Insurers.

Background Information

​Florida Preferred Property was a Florida corporation that was formed in 2002 and was headquartered in Tampa, Florida. The company was authorized to transact business in the state of Florida as a domestic property and casualty insurer. Florida Preferred Property wrote homeowners multi-peril, allied lines, and fire insurance coverage. In May 2006, Florida Preferred Property reported an impaired financial condition on its quarterly financial statement as of March 31, 2006. As of June 1, 2006, Florida Preferred Property had approximately 144,000 policies in force.

Liquidation Plan

​In conjunction with the Office of Insurance Regulation, the Florida Insurance Guaranty Association, and Citizens Property Insurance Corporation, the Receiver developed a plan to provide for an orderly transition of eligible policyholders from the Poe Insurers to other insurers or to Citizens while continuing to serve the interests of the Poe Insurers’ creditors and the public. This plan was submitted to and approved by the Court on June 2, 2006. Under the Liquidation Plan, eligible policyholders were automatically transitioned to Citizens Property Insurance Corporation effective July 1, 2006 without the need for a new application or additional underwriting review.  

On 9/11/2012, the Receiver mailed Notices of Determination to all known claimants. All classes were evaluated and the amount recommended along with the class assignment are identified in the notice. The Objection Filing Deadline is October 26, 2012. Objections will not be accepted after this date.

Distribution Made
​On 9/15/2017 the Receiver mailed claim distribution checks. A total of 4,801 checks were mailed with 311 suspended for no better address and/or W9 issues. In addition to the check, a Notice will be sent as an insert advising the claimant that the check is time sensitive and is only valid for the period specified on the front of the check. The Notice instructs the claimant to deposit the check as soon as possible. Claimants receiving payment should pay close attention to the Notice Regarding Time Sensitive Distribution Checks.

Estate Closed

​By Court Order of February 13, 2018, the Estate is closed and the Department is Discharged of its duties as Receiver effective on February 28, 2018 at 11:59PM.

The following documents are provided as Adobe Acrobat PDF files and are best viewed using the free Adobe Acrobat reader software.

Court Documents

02/13/2018Court Order Approving Departments Discharge1,192K
02/12/2018Departments Motion for Approval of Discharge267K
08/25/2017Order Approving Department's Motion for Approval of Final Claims Report, Distribution Report and Distribution Accounting, and for Order Authorizing Distribution317K
08/24/2017Department's Motion for Approval of Final Claims Report, Distribution Report and Distribution Accounting, and for Order Authorizing Distribution992K
08/21/2012Receiver's Motion for Approval of the 1st ICR500K
08/21/2012 Order Approving Receiver's 1st Interim Claims Report and Recommendation on Claims118K
03/28/2008Receiver's Complaint for Relief2,705K
06/16/2006Amended Order Approving Receiver's Plan of Liquidation and Transition28K
06/02/2006Order Approving Receiver's Plan of Liquidation and Transition454K
05/31/2006Order Appointing the Florida Department of Financial Services as Receiver of Florida Preferred Property Insurance Company for Purposes of Liquidation, Policy Transition, and Notice of Automatic Stay138K
05/26/2006Notice of Filing - Consent to Liquidation64K
05/11/2006Order To Show Cause29K
05/09/2006Verified Petition for an Order to Show Cause as to Why the Department of Financial Services Should not be Appointed Receiver for Purposes of Liquidation273K



09/15/2017Notice Regarding Time Sensitive Distribution Checks40K
06/14/2006Receiver's Notice to Policyholders and Citizens Notice of Offer of Automatic Insurance Coverage62K
06/07/2006Notice to Agent or Broker Regarding the Liquidation of Atlantic Preferred Insurance Company, Florida Preferred Property Insurance Company and Southern Family Insurance Company61K



02/12/2016Insolvency Report4,494K