The Florida Department of Financial Services was appointed as receiver of FCIC and FCTPIC since July 10
According to Florida’s Department of Financial Services, a Florida Judge has ordered First Commercial Insurance Company and its subsidiary, First Commercial Transportation & Property Insurance to be liquidated – reported Business Insurance.
The Florida Department of Financial Services was appointed as receiver of FCIC and FCTPIC since July 10, while the companies were placed in receivership for the purpose of rehabilitation on consent.
FCIC wrote workers compensation, commercial auto, general liability and multi-peril policies in Florida and Georgia. FCIC and its unit have approximately 18,000 in-force policies that will be cancelled, effective September 23.