Is Windhaven Insurance Still in Business?

Windhaven Insurance Shut Down in 2020

• Windhaven Insurance Company was ordered into receivership and liquidation in late 2019.

• On December 12, 2019, the company was placed into rehabilitation.

• Then on December 30, 2019, the court approved an order to liquidate Windhaven effective January 6, 2020.

• As a result, all Windhaven insurance policies were canceled as of February 5, 2020 at 12:01 am, unless they had already terminated prior to that date.

• The Florida Department of Financial Services was appointed as the receiver to handle the shutdown of Windhaven Insurance.

Why Did Windhaven Insurance Go Out of Business?

According to court documents, Windhaven Insurance Company was ordered into receivership and liquidation for several reasons:

• The company was insolvent and unable to pay its obligations.

• It sustained substantial losses and had a large surplus deficit.

• Projections showed it would be unable to recover from its poor financial condition.

• Keeping the company open posed a risk of further losses to policyholders, creditors, and the public.

• The interests of policyholders and the public were best served by liquidating the company.

What Happened to Windhaven Insurance Policies?

When Windhaven shut down, all active insurance policies were canceled on February 5, 2020. Policyholders had to secure new coverage from another insurer.

The Florida Insurance Guaranty Association (FIGA) stepped in to pay certain outstanding claims for Windhaven policies. FIGA is a state-created nonprofit that provides a safety net for policyholders when an insurer is liquidated.

FIGA also handled unearned premium refunds for Windhaven customers, subject to a $100 deductible.

Filing Claims Against the Windhaven Estate

The deadline to file claims against the Windhaven Insurance receivership estate was January 6, 2021.

Claimants who had additional losses beyond what FIGA covered were able to file claims directly with the Florida Department of Financial Services as the receiver.

Some examples of claims that could be filed:

• The $100 FIGA deductible amount
• Losses exceeding FIGA’s coverage limits
• Expenses not covered by FIGA like legal defense fees

Windhaven Insurance No Longer Operates

Any former Windhaven customers who need new insurance should contact an agent or insurer right away to set up a policy. Drivers are required by law to maintain continuous auto insurance coverage.

While the Windhaven closure created challenges for its customers, thankfully FIGA provided assistance for many outstanding claims. Drivers can now move forward with new carriers, policies, and peace of mind.