The Florida Senate

Protect the interests of policyholders, creditors, and other claimants and the public.

Provide a comprehensive scheme for administering insurer receiverships.

Detect any potentially dangerous condition in an insurer and promptly apply appropriate corrective measures.

Implement improved methods for rehabilitating insurers, which methods involve the cooperation and management expertise of the insurance industry.

Enhance the efficiency and economy of the liquidation process by clarifying the law to minimize legal uncertainty and litigation.

Establish a system to equitably apportion any unavoidable loss.

Administer insurer receiverships more efficiently on an interstate and international basis by facilitating cooperation between states and by extending the scope of personal jurisdiction over debtors of the insurer outside this state.

Maximize recovery of assets for the benefit of the insurer’s estate; policyholders, creditors, and other claimants; and the public.