Insurer ordered to liquidate

The court order said that Lighthouse’s roughly 30,000 policies will be canceled within the next 30 days or by May 28.

Tampa Bay Business Journal reported that the nonprofit Florida Insurance Guaranty Association – which pays for the outstanding claims of bankrupt insurers in the state – will cover up to $300,000 of unpaid claims, including unearned premiums.

On March 29, ratings firm Demotech withdrew Lighthouse’s stability rating because the company’s operating losses in 2021, when Hurricane Ida struck, were below the level of capitalization required for an “A” rating. Lighthouse later entered into receivership in April, just after it

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