Customers of Tampa-based Lighthouse Property Insurance Corp. are being urged to contact their agents to find new coverage after a judge last week ordered the insurer to be liquidated.
A “frequently asked questions” document posted this week on the Lighthouse website says policies for Lighthouse and affiliate Lighthouse Excalibur Insurance Co. will expire May 28 in Florida and three other states.
“Florida, North Carolina, South Carolina and Texas policyholders must seek coverage from another company as they will no longer have Lighthouse coverage starting May 29, 2022 and beyond. “, says the document. “Policyholders are encouraged to contact their agent to find replacement coverage.”
The Florida Insurance Guaranty Association, which handles claims from insolvent insurers, has been activated to help pay Lighthouse’s claims, according to the nonprofit’s website.
Lighthouse had about 27,000 policies in Florida last month. The company has also insured homes in Louisiana, North Carolina, South Carolina and Texas.
The winding-up order, issued by a Louisiana judge, was another blow to the property insurance market in Florida. Governor Ron DeSantis has called a special legislative session to begin May 23 to address market issues.