The nightmare may soon be over for the hundreds of homeowners still unable to repair damages stemming from Hurricane Wilma, which swept through southern Florida nearly three years ago. Following the hurricanes in 2004 and 2005, three Poe Financial companies — Atlantic Preferred, Florida Preferred, and Southern Family — went out of business. In 2006, state regulators stepped in and the Florida Insurance Guaranty Association (FIGA), a nonprofit agency formed by legislature, has since been paying claims for the defunct companies.

“This has been an unusual insolvency,” said Michelle Lovern, deputy director at FIGA. “It has been the largest that the state of Florida has ever handled, and, at this point, we have paid 45,000 claims under the guaranty association. That doesn’t even cover all of the claims that Poe had from the 2004 and 2005 storms.”

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