Division of Rehabilitation and Liquidation

Company Information - International Bankers Insurance Company

On March 4, 1991, International Bankers Insurance Company (“IBIC”) was placed into liquidation by order of the Second Judicial Circuit Court in and for Leon County, Florida (“Court”).  The claims filing deadline was September 4, 1991.

On December 21, 2004, the Court issued an order approving a first distribution of assets in this estate.  Under the terms of the order, Class 1 claimants received a 100% distribution and Class 2 claimants received a 62.82% distribution of the recommended and adjudicated amounts of their claims. Checks for the first distribution were mailed on January 13, 2005.

On September 1, 2006, the Court issued an order approving a second distribution to Class 2 claimants representing an additional 36.01% of the recommended and adjudicated amounts of their claims. This second distribution brings the total pro-rata share paid to Class 2 claimants to 98.83%. Checks for the second distribution were mailed on September 1, 2006.

On June 14, 2007, the Court issued an order approving the Receiver's Fifth Interim Claims Report which authorized the mailing of Objection Notices to 6,419 claimants who now have a monetary recommendation on their filed claim. Most of these notices were sent to Class 3 claimants and the recommendation represents the $100 deductible previously withheld from the unearned premium refunds that were paid by the Florida Insurance Guaranty Association ("FIGA"). The notices were mailed on June 20, 2007. The notice informed them of the Receiver's recommendations concerning the classification and amount of their claim, along with instructions on how to proceed if a claimant objects to the recommendations. Objections were required to be filed by the claimant, in writing, with the Court and the Receiver and postmarked by July 27, 2007. Objections filed after that date were not considered.

On April 2, 2008, the Court issued an order approving a final distribution in the International Bankers estate. Under the terms of the order, claimants in Class 2 and Class 3 were approved to receive a distribution on the recommended and adjudicated amounts of their claims. Claimants in Class 2 were approved to receive an additional 1.17% so between this distribution and the two previous distributions in 2005 and 2006, Class 2 claimants will now have been paid 100.00% of their claim. The order also authorized a 4.93% distribution to Class 3 claimants. This is the first and only distribution to Class 3 claimants. Distribution checks were mailed on April 28, 2008.

On November 18, 2008, the Court issued an order that discharged the Florida Department of Financial Services of its duties as Receiver of International Bankers effective November 30, 2008.

Pursuant to the Court order, all undelivered distributions were sent to the Department of Financial Services, Bureau of Unclaimed Property. The Bureau of Unclaimed Property may be reached at:

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