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Welcome to the
Office of Insurance Regulation

Take-out Companies

Information on Companies Recently Approved to Remove Policies from Citizens Property Insurance Corporation

The information below is provided by the Office of Insurance Regulation for the purpose of allowing Citizens’ policyholders and their agents to review the financial status of companies recently approved by the Office to remove policyholders from Citizens.

These companies, called “take-out companies,” have all met or exceeded Florida’s rigorous statutory requirements to attain a license from the Office to sell property insurance in the state. It is intended that this information be used to assist in making a well-informed decision on whether a policyholder wishes to accept or deny a take-out offer.

If a policy is selected for removal, the take-out company must first notify the policyholder’s agent, who may refuse to allow the policy to be removed from Citizens. If the agent refuses, the policyholder will be notified by Citizens that the agent refused to allow removal of the policy and that the policyholder still has the choice to accept the take-out offer.

The Office encourages policyholders to talk to their agents, to call the take-out company or visit its Web site if they have questions or would like more information. Citizens policyholders may also visit the "depopulation" section of the Citizens Web page and view a wide variety of current and past take-out documents.

The information on this page is based upon information submitted by these insurance companies to the Office. The Office does not warrant the accuracy or completeness of this information.

Citizens Property Insurance Corporation

--Select one-- Office's Approval of Take-out Plans - Order #94539-08, dated March 11, 2008 Citizens' Depopulation Website  

Guidelines for Companies Interested in Submitting a Take-out Proposal

--Select one-- Requirements for Approval Requests 9/8/2008 Personal Residential Assumption Office Deadlines for 2010 Commercial Residential Assumption Office Deadlines for 2010  

Requirements for Approved Take-out Companies

--Select one-- Requirements Participating Insurers 3/18/2008 Additional Requirements Participating Insurers 6/23/2008 Clarification Letter to Takeout Companies regarding Additional Requirements issued June 23, 2008  

Pending Take-out Requests

Personal Residential Take-outs

The following company has requested approval from the Office to participate in the July 13, 2010 personal residential takeout from Citizens. Approvals for the July 13, 2010 takeout will be issued by the Office no later than May 24, 2010.

1. Southern Oak Insurance Company

Companies Participating in the Personal Residential Take-out Program:

American Integrity Insurance Company of Florida

--Select one-- Financial Statement as of June 30, 2009 November 14, 2008 Takeout Approval Take-out Approval – Consent Order #92323-07, dated October 24, 2007 Pro forma Financial Statements Contact Information: Call 1-866-663-8812 or Visit their website at www.aiicfl.com  

Argus Fire & Casualty Insurance Company

--Select one-- Financial Statement as of June 30, 2009 Take-out Approval – Consent Order #100235-08, dated December 2, 2008 Take-out Approval – Consent Order #92323-07, dated October 24, 2007 Pro forma Financial Statements Contact Information: Call 1-866-663-8812 or Visit their website at www.aiicfl.com  

Avatar Property & Casualty Insurance Company

--Select one-- Financial Statement as of June 30, 2009 Take-out Amended Consent Order #97398-08 dated August 29, 2008 Take-out Approval – Consent Order #95239-08, dated April 28, 2008 Proforma Financial Statements Contact Information: Call 1-877-233-3237 or Visit their website at www.avatarins.com

Capitol Preferred Insurance Company

--Select one-- Capitol Preferred Insurance Company Take-out Approval Letter February 2010 Financial Statement as of June 30, 2009 Contact Information 1-800-734-4749 Visit their website at www.capitolpreferred.com Proforma Financial Statement

Edison Insurance Company

--Select one-- Financial Statement as of June 30, 2009 Take-out Approval – Consent Order #97397-08 dated August 29, 2008 Pro forma Financial Statements Contact Information: Call 1-800-657-6618 or Visit their website at www.edisonline.net  

Federated National Insurance Company

--Select one-- Financial Statement as of June 30, 2009 Take-out Approval – Consent Order #100216-08 dated December 2, 2008  

First Home Insurance Company

--Select one-- Financial Statement as of June 30, 2009 Take-out Approval – Consent Order #92325-07, dated October 24, 2007 Pro forma Financial Statements Contact Information: Call 1-800-600-1842 (No Web site at this time)  

Florida Peninsula Insurance Company

--Select one-- Financial Statement as of June 30, 2009 January 13, 2009 Takeout Approval November 14, 2008 Takeout Approval Take-out Approval – Consent Order #93886-08, dated January 28, 2008 Pro forma Financial Statements Contact Information: Call 1-877-900-3973 or Visit their website at www.floridapeninsula.com  

Homeowners Choice Property and Casualty Insurance Company

--Select one-- Financial Statement as of June 30, 2009 Take-out Amended Consent Order #97441-08 dated August 29, 2008 Take-out Approval – Consent Order #93346-07, dated December 19, 2007 Pro forma Financial Statements Contact Information: Call 1-877-304-9394 or Visit their website at www.hcpci.com  

HomeWise Preferred Insurance Company

--Select one-- Financial Statement as of June 30, 2009 November 14, 2008 Takeout Approval Take-out Approval – Consent Order #93924-08, dated January 28, 2008 Financial Statement as of June 30, 2008 Pro forma Financial Statements Contact Information: Call 1-866-496-1781or Visit their website at www.homewiseinsurance.com  

Prepared Insurance Company

-- Select One -- Take-Out Approval - Consent Order Contact Information: Call 1-877-313-1824 or Visit their Web site at http://www.preparedins.com/  

Southern Fidelity Insurance Company

--Select one-- Take-out Approval – Consent Order #108030-09-CO dated December 18, 2009 Financial Statement as of June 30, 2009 Proforma Financial Statement Contact Information: 1-866-874-7342 or Visit their website at www.southernfidelityins.com

Southern Oak Insurance Company

--Select one-- Financial Statement as of June 30, 2009 January 13, 2009 Takeout Approval November 14, 2008 Takeout Approval Take-out Approval – Consent Order #93061-07, dated November 29, 2007 Pro forma Financial Statements Contact Information: Call 1-877-900-3971 or Visit their website at www.southernoakins.com  

Sunshine State Insurance Company

--Select one-- Financial Statement as of June 30, 2009 Take-out Amended Consent Order #97396-08 dated August 27, 2008 Take-out Approval – Consent Order #93543-07, dated January 2, 2008 Pro forma Financial Statements Contact Information: Call 1-877-563-0150 or Visit their website at www.ssic-insco.com  

United Property & Casualty Insurance Company

--Select one-- Financial Statement as of June 30, 2009 Take-out Consent Order #97399-08 dated August 29, 2008 Financial Statement as of June 30, 2008 Pro forma Financial Statements Contact Information: Call 1-800-861-4370 or Visit their website at www.upcic.com  

Companies Participating in the Commercial Residential Take-out Program:

There are no companies being considered for the August 10, 2010 commercial residential takeout. The Office is now accepting request for approval for the September 9, 2010 commercial residential takeout. Please see the Guidelines for Companies Interested in Submitting a Take-out Proposal section for submission deadlines. Please check back for a list of companies requesting approval for this takeout date.