“Our priority is to make sure these policyholders are taken care of,” she said.

Vanguard, according to her office, currently has 75,000 homeowners policies. The company stopped writing new coverage earlier this month and announced it would not write renewal coverage after April 19, 2007.

According to Highline Insurance Data (a subsidiary of this publication), the company reported a loss for 2003, 2004 and 2005 with a net loss $11.6 million last year. The company in 2005 reported total assets of $35 million, surplus of $8.1 million and liabilities of $26.9 million.

Ms. Sink's announcement provides phone numbers for policyholders to call, and in addition states that consumers with questions regarding Vanguard Fire & Casualty Company should visit the company's Web site at www.vanguardfc.com.

Vanguard, on its company Web site this morning, had a welcome message that reads in part: “We have a solid financial structure with reinsurance and investment partners that ensure the company can pay its claims even in the event a severe hurricane were to hit Florida.”

Nina Bannister, a spokesperson for Ms. Sink could not restrain a chuckle, when that content was read to her. “We can't control that,” she said, explaining that authorities had only gone into the company on Friday.

She said the receivership was sought at the request of the Office of Insurance Regulation because the company “had a noncompliance with surplus requirements.”

Vanguard's last press statement on its Web site is from March 3, 2005, when it reported that it had closed 18,509 claims from 2004 hurricanes, and that 1,702 claims were still open. “We will not rest until every claim has been closed,” stated Vanguard Company President William T. Sanders.