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.
Of the more than 28,000 UPC policyholders in Texas, over 11,000 live in the Texas Windstorm Insurance Association’s Designated Catastrophe Area. See Guidance for UPC policyholders who live along the Texas coast.
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.
5. Should I get an insurance policy with another company?
Yes. Your insurance agent can advise you about options.
If you live along the Texas coast, you may be able to get windstorm and hail coverage through the Texas Windstorm Insurance Association (TWIA).
6. Will I get a refund for premium paid for the period after the policy is canceled?
Yes. The Texas Property and Casualty Insurance Guaranty Association (TPCIGA) will refund your unearned premium (premium paid for the period after the policy is canceled).
TPCIGA is responsible for paying claims for unearned premium. You don’t have to file your own claim. The Receiver will notify the guaranty association of your unearned premium claim.
TPCIGA was created by the Texas Legislature to pay property and casualty claims if an insurance company fails. This includes refunding unearned premium payments to policyholders. Learn more about TPCIGA on their About Us webpage.
People living in another state can find their state’s guaranty association by going to the National Conference of Insurance Guaranty Funds’ website.
7. When am I going to get my refund of unearned premium?
TPCIGA will begin processing refunds after they receive necessary financial information from the Receiver. It is not necessary to file a claim with TPCIGA for your unearned premium.
8. How much will I get from TPCIGA?
The amount that you already paid UPC for coverage after March 29, 2023.
9. Have a hardship? Here's how to request a faster refund of unearned premium
To request a faster refund due to a hardship situation, please contact the Receiver.
10. How will the guaranty association pay claims under a UPC insurance policy?
If you live in Texas:
The Texas Property and Casualty Insurance Guaranty Association will pay covered claims for policies issued to Texas residents. This is subject to limits and other exclusions.
If you don’t live in Texas:
Your state’s guaranty association will pay covered claims for policies issued to their residents. This is subject to limits and other exclusions. You can find information about your state’s guaranty association on the National Conference of Insurance Guaranty Funds’ website.
11. What happens if I filed a loss claim with UPC?
The Texas Property and Casualty Insurance Guaranty Association will send notices to people who have open claims on file with UPC after it receives the claim files.
It may take some time before the guaranty association receives the information needed to contact you.
12. How do I contact the Texas Property and Casualty Insurance Guaranty Association?
Phone: 512-345-9335 or toll-free 800-856-0298
Mailing address: TPCIGA, 9120 Burnet Road, Austin, TX 78758
13. How do I contact the Florida Department of Financial Services or the Special Deputy Receiver?
Florida Department of Financial Services, Division of Rehabilitation and Liquidation:
Phone: 850-413-3081 or toll-free at 800-882-3054
For more information, contact: FIN-GM@tdi.texas.gov