Magnolia Insurance Company
Effective April 30, 2010, Magnolia Insurance Company (“MIC”) was ordered liquidated by the Second Judicial Circuit Court in Leon County, Florida.
With the entry of the liquidation order, the Florida Insurance Guaranty Association (“FIGA”) has been activated to help pay outstanding claims for property and casualty policies. The processing and payment of covered claims will be made by FIGA (subject to the lesser of policy limits or FIGA’s maximum cap). The maximum amount FIGA will cover is generally $300,000. For more information see the FAQ section of this website or the Florida Receiver. No claim will be paid in excess of this cap. All claims are subject to a $100 deductible over and above any deductible identified in the MIC policy. A policyholder may file a claim in the MIC receivership for the $100 deductible and for amounts over the cap.
Consumers who need to report a new claim are directed to contact their agent or contact the Florida Insurance Guaranty Association at 1-866-928-4310 (toll-free). You may also report a new claim by faxing or emailing FIGA.
You will need to have the following information available when reporting a new claim:
Insured's Name
Insured's Contact Information
Policy Number
Date of Loss
Brief Description of the Loss
Police Report, if applicable
Insured's Name
Insured's Contact Information
Policy Number
Date of Loss
Brief Description of the Loss
Police Report, if applicable
This information can be faxed to 1-850-523-1888 or email to: nclaim@agfgroup.org
FIGA is working with the Florida Receiver to obtain the information needed to process the Magnolia claims that were open as of the date of liquidation (April 30, 2010). Claimants should hear from a FIGA adjuster in the next two or three weeks. If you need to reopen a claim we request that you fax the new information to the number above. Please include the claim number, claimant name and contact information.
"What should I do after I file my claim?"
All policyholders should be informed that per Section 631.68, Florida Statutes, the deadline for settling a claim or filing suit against FIGA is May 2, 2012.
Premium Refunds/Unearned Premium:
The Florida Receiver processed unearned premium refunds on behalf of FIGA and returned premium checks were mailed beginning May 24, 2010. If you cancelled your policy prior to the May 30, 2010 mass cancellation date, a supplemental refund will be processed at a later date.
A $100 statutory deductible will be taken from the amount owed. It is not necessary to report an unearned premium claim nor is any paperwork required.
For non-claim related questions regarding the receivership, consumers are asked to contact the Receiver by using the “Contact Us” form at the Receivers website, www.floridainsurancereceiver.org or call the Florida Department of Financial Services, as Receiver, at (800)882-3054 or (850)413-3081.