03/24/2023
UPC PLACED IN RECEIVERSHIP
IF YOU OWN A HOME AND ARE INSURED BY UPC YOU NEED TO CONTINUE READING. CALL THE METRO AGENCY TODAY TO GET A HOMEOWNERS QUOTE- 631-849-1101
UPC, a Florida property and casualty insurance company licensed in Texas, was ordered to end its operations by Florida state officials and the Second Judicial Circuit Court of Leon County, Florida.
General information
1. Is UPC still in business?
No. On February 27, 2023, UPC was ordered to end its operations.
UPC was placed in receivership and ordered into liquidation by the Second Judicial Circuit Court of Leon County, Florida.
The case number is 2023-CA-000320.
This order appointed the Department of Financial Services of the State of Florida as Receiver.
2. Why does UPC need to end its operations?
On February 16, 2023, Michael Yaworsky, the Interim Commissioner of the Florida Office of Insurance Regulation, found that UPC was “insolvent.” This means that UPC can’t pay all of its obligations, such as policyholder claims. UPC must now bring its business to an end and pay claims and bills with available money and assets.
3. What is the status of my UPC policy?
UPC’s insurance policies will be canceled effective 12:01 a.m. on March 29, 2023. If you are a policyholder, this is when your policy will end unless your policy ends earlier than that day under the terms of your policy.
4. Can I renew, make changes, or add coverage to my UPC policy?
No. UPC may not issue or renew policies.
** DO NOT WAIT YOU HAVE 6 DAYS TO REPLACE COVERAGE**
