Argus Fire and Casualty Insurance Company Ordered into Administrative Supervision; All policies have been cancelled.

The Florida Office of Insurance Regulation ("OFFICE") has determined that Argus Fire & Casualty Insurance Company ("ARGUS FIRE") is unable to secure adequate catastrophe reinsurance for the 2011 hurricane season, which renders the continuance of ARGUS FIRE's business hazardous to the public and its insureds. Therefore the OFFICE has decided that it is in the policyholder's best interest to cancel all of its existing policies and refund premium to its policy holders pursuant to the recently enacted amendment to Section 627.4133, Florida Statutes, contained in Senate Bill 408 signed into law on May 17, 2011. This statute provides that an insurer can cancel its in-force policies with forty-five (45) days written notice if a plan to cancel said policies is approved by the OFFICE, which was approved on May 31, 2011. Furthermore, in an effort to protect the remaining policy holders of ARGUS FIRE and effectuate the cancellation of ARGUS FIRE's in-force policies, the OFFICE has placed ARGUS FIRE into administrative supervision, a copy of the relevant Consent Order can be found at http://www.floir.com/siteDocuments/Argus_CO.pdf.

PLEASE NOTE THE FOLLOWING IMPORTANT UPDATES:

Hours of operation are Monday – Friday from 8:00 AM to 5:00 PM, Eastern Time.

PLEASE CONTINUE TO MONITOR THIS WEBSITE FOR ANY FUTURE UPDATES REGARDING THE ADMINISTRATIVE SUPERVISION OF ARGUS FIRE & CASUALTY INSURANCE COMPANY.