Insurance Company of the Americas ("ICA") was found to be insolvent and placed into receivership by the Circuit Court of Leon County, Florida on January 24, 2018. The Florida Department of Financial Services, Division of Rehabilitation and Liquidation, is responsible for the liquidation of ICA. The Texas Property and Casualty Insurance Guaranty Association ("TPCIGA") is NOT triggered to handle claims until the Texas Commissioner of Insurance designates the company an "impaired insurer." Once that occurs, TPCIGA will handle certain claims arising under ICA policies under the Texas Property and Casualty Insurance Guaranty Act, TEX. INS. CODE Ch. 462.
INSURANCE POLICY AND COVERAGE INFORMATION
The Liquidation Order cancels all policies effective February 23, 2018, at 12:01 a.m. There are no known, in force policies, however.
NEW AND PENDING LOSS CLAIMS INFORMATION
Please report new claims by email to the Florida Department of Financial Services at Rehab.ClaimsServices@myfloridacfo.com.
After ICA is designated impaired in Texas, the Florida Division of Rehabilitation
and Liquidation will arrange for the transfer of claim files and data to TPCIGA for
handling. Until then, please submit inquiries on existing claims to the Florida Department
of Financial Services by email at Consumer.Services@myfloridacfo.com or by calling
STAY OF LITIGATION
All lawsuits in which ICA is a party have been stayed by order of the Florida Circuit Court. Once the company is designated impaired, lawsuits pending in Texas in which ICA is a party or is obligated to defend a party are automatically stayed pursuant to Texas law for six months to allow TPCIGA time to receive and review the claims.
PRIOR OR PENDING SETTLEMENTS
TPCIGA is not bound by a settlement or release entered into by ICA or its insureds, and such a settlement is not evidence of liability or damages against TPCIGA or an insured. TEX. INS. CODE §462.303.
The Florida Division of Rehabilitation and Liquidation has posted information about
ICA, in receivership, at https://www.myfloridacfo.com/Division/Receiver/Companies/ICA/FAQ.htm.
You may also contact the Florida receiver at (850) 413-
Information as of 02/01/2018
Insurance Company of the Americas
Information on this site is not legal advice and is not intended to be a comprehensive statement of the law or of the TPCIGA's policies and procedures. References to the laws of any jurisdiction are for informational purposes only and are not a substitute for the official version of a statute. TPCIGA makes no warranty as to the accuracy or reliability of the content of this website or other related websites.
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