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333 Guadalupe St. P.O. Box 149104 Austin, TX 78714-9104

AMERICAN BANKERS INSURANCE COMPANY OF FLORIDA

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Table of Contents
General Info | Contact Info | Types of Insurance | Use of Credit | Attorney for Service | Ratings | Financial Info | Premiums | Complaint Ratios | Company History | Company Officers

General Information:

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Type of Entity:  Authorized Company (AUTH)
Status of TX License:  Active
Company Status:  Normal Operations
License Number:  1750
License Type:  Fire and Casualty (FC)
NAIC Number:  10111
TDI Company Number:  1750
FEIN:  590593886
Home City/State:  FL
Origin:  Foreign
Date Incorporated/Organized:  10/29/1947
Date Licensed/Eligible/Registered in Texas:  02/15/1949
Date Cancelled/Ineligible/Inactive:  

Contact Information:

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Mailing Address:  11222 Quail Roost Drive
 Miami FL 33157-6596
Office Number:  (305)253-2244
Toll Free Number:  (800)852-2244
Fax Number:  (305)252-6987


Types of Insurance Licensed to Write:

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Use of Credit:

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To determine if a company uses credit information for private passenger automobile or homeowners insurance.


Attorney for Service:

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Rating By Financial Organization:

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The following organizations rate insurance companies on their financial strength and stability. Some of these companies charge for their services.



Financial Information:

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As of: Dec. 31, 2011 Dec. 31, 2012 Dec. 31, 2013
Total Assets   $1,378,659,809     $1,707,524,560     $1,844,859,238  
Total Liabilities   $973,943,455     $1,201,055,685     $1,302,742,564  
Asset to Liability Ratio   1.4     1.4     1.4  
Capital   $5,083,164     $5,083,164     $5,083,164  
Net Surplus   $399,633,190     $501,385,711     $537,033,510  
Total Life Ins   N/A     N/A     N/A  


Premiums:

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As of: Dec. 31, 2011 Dec. 31, 2012 Dec. 31, 2013
Life and Annuities   N/A     N/A     N/A  
Accident and Health   $83,188     $70,758     $51,550  
Property and Casualty   $52,009,989     $74,986,472     $101,293,844  
Total Texas Premium   $52,093,177     $75,057,230     $101,345,394  
National Premium   $1,350,153,626     $1,512,667,461     $1,739,871,264  


Complaint Information:

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When considering the company's complaint index and ratio, be sure to review the company history information displayed below for recent acquisitions, mergers, or other events that may affect the figures displayed for this company.


  Dec 31, 2012 Dec 31, 2013 Apr 18, 2014
Confirmed Complaints:      
Life and Annuity 0 0 0
Accident and Health 0 0 0
Homeowner 1 1 1
Automobile 0 0 0
Workers' Compensation 0 0 0
Complaint Ratio/Index Ratio Index Ratio Index  
Life and Annuities N/A N/A N/A N/A N/A
Accident and Health N/A N/A N/A N/A N/A
Homeowner .0099 2.1024 .0052 1.4620 N/A
Automobile .0000 .0000 .0000 .0000 N/A
Workers' Compensation N/A N/A N/A N/A N/A

Confirmed Complaints: the number of confirmed complaints closed against the company for the line of insurance and year indicated. A complaint is confirmed if the department receives information indicating that a company committed any violation of an applicable state insurance law or regulation, a federal requirement the department has authority to enforce or the term or condition of an insurance policy or certificate. A complaint is also confirmed if the complaint and company's response, considered together, suggest that the company was in error or that the complainant had a valid reason for the complaint.

Complaint Ratios: the ratio, expressed as a percentage, is the number of closed confirmed complaints divided by the number of policies the company had in force for the line of insurance and year indicated.

Complaint Index: indicates how a company's ratio of the number of complaints to the number of policyholders compares to the average for all insurers. The index is calculated by dividing the company's percentage of complaints for a specific line of insurance by the company's percentage of the policies in force for the same line of insurance. The average index is 1.00. A number less than 1 indicates fewer complaints than average; a number greater than 1 indicates more complaints than average. For the most recent completed year, a given insurer's index may change over time, as policy count data is received by TDI. This will affect each insurer's percentage of the total.

Complaints against an insurance company are not part of the complaint tally above if the insurance company served only as a Third Party Administrator (TPA), a company hired simply to administer the paperwork of a health plan. Instead, they are included in the complaint record of the insurance company or HMO that hired the TPA. If a bonafide self-insured benefit plan hired the TPA, no complaint numbers are recorded as a part of the company/TPA's profile. Neither are profiles available for self-insured plans, as such plans are regulated under federal law.


Company History:

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Date Event
03-21-2013 PENALTY OF $14,000,000 PAID BY AMERICAN BANKERS INSURANCE COMPANY OF FLORIDA AND AMERICAN SECURITY INSURANCE COMPANY FOR VIOLATIONS FOUND DURING AN INVESTIGATION CONCERNING FORCE PLACED INSURANCE POLICIES IN NEW YORK.
08-27-2009 PENALTY OF $1,000 FOR AN UNTIMELY COMPLAINT RESPONSE IN OKLAHOMA.
12-23-2008 EFFECTIVE 11/01/2008 VOYAGER PROPERTY AND CASUALTY INSURANCE COMPANY (94485) COLUMBIA, SOUTH CAROLINA MERGED INTO COMPANY.
10-02-2008 PENALTY OF $1,000 FOR RATE VIOLATIONS IN VIRGINIA.
11-30-2006 EFFECTIVE 11/25/2006 TOTALLY REINSURED FINANCIAL INSURANCE EXCHANGE (29683) AUSTIN, TEXAS.
01-13-2006 EFFECTIVE 12/01/2005 MS CASUALTY INSURANCE COMPANY (05716) RIDGELAND, MISSISSIPPI MERGED INTO COMPANY
06-24-2004 PENALTY OF $50,000 FOR FAILURE TO FILE POLICY FORMS AND ENDORSEMENTS WITHIN THIRTY DAYS OF USE IN WASHINGTON.
11-30-2001 ACQUIRED SPECIALTY LLOYDS INSURANCE COMPANY (05876) SAN ANTONIO, TEXAS.
11-10-1998 PENALTY OF $88,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN NORTH CAROLINA.
08-06-1998 PENALTY OF $6,000 FOR ISSUING POLICIES THROUGH AN UNLICENSED AGENT IN WEST VIRGINIA.
06-30-1998 PENALTY OF $35,000 FOR FAILING TO HAVE A MINIMUM DEDUCTIBLE AND FAILING TO FILE WITH THE COMMISSIONER EVERY MANUAL OF THE CASUALTY AND SURETY RATE REGULATORY ACT IN PENNSYLVANIA.
03-18-1998 PENALTY OF $250,000 PAID BY COMPANY AND AMERICAN BANKERS LIFE ASSURANCE COMPANY OF FLORIDA FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN MISSOURI.
09-09-1997 PENALTY OF $20,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN ARIZONA.
04-25-1997 PENALTY OF $6,000 FOR FAILURE TO TIMELY FILE FAULTY ZIP CODE DATA IN MISSOURI.
06-18-1996 PENALTY OF $100,000 FOR VIOLATIONS FOUND DURING AN INVESTIGATION IN NEW YORK.
01-11-1996 PENALTY OF $23,500 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN FLORIDA.
04-16-1993 PENALTY OF $10,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN ILLINOIS.
11-02-1992 PENALTY OF $200,000 PAID BY COMPANY AND AMERICAN BANKERS LIFE ASSURANCE COMPANY OF FLORIDA FOR VIOLATIONS FOUND DURING AN EXAMINATION IN MINNESOTA.
08-04-1992 ADDED CREDIT INVOLUNTARY UNEMPLOYMENT INSURANCE.
03-23-1992 PENALTY OF $20,000 PAID BY COMPANY AND AMERICAN BANKERS LIFE ASSURANCE COMPANY OF FLORIDA FOR USING CERTAIN FORMS AND RATES WITHOUT PRIOR APPROVAL IN PENNSYLVANIA.
02-15-1949 GRANDFATHERED FOR CAPITAL AND SURPLUS REQUIREMENTS


Company Officers:

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Title Name
President GENE E MERGELMEYER
Secretary JEANNIE A ARAGON CRUZ
Treasurer ANDREW P CHUNG