On October 1, 2018, Sawgrass Mutual Insurance Company (“SMIC”) was ordered liquidated by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services (“Department”) is the court appointed Receiver of SMIC.  Please continue to report all new claims in accordance with the company’s normal claims filling procedures until instructed differently. More information is available on the Department’s website here.


Individual Investment Accounts

Individual Investment Account (IIA)

Individual Investment Accounts are notional accounts in the name of each qualifying member of Sawgrass Mutual.

IIAs are the long-term capital management strategy that allows us to keep our cost for coverage low and demonstrate our commitment to the interests of our policyholders.  It enables our policyholders to grow their investment in a highly efficient and safe manner. 

Things to know about your Individual Investment Account Statement

Policyholder Surplus

This is the difference between Sawgrass Mutual's total admitted assets and the total liabilities. It is Sawgrass Mutual's net worth.

Funds: Class A and Class B

Class A funds are the amount equal to the surplus portion of your premium that you have invested into your policy.

Class B funds are the allocated funds policyholders receive for services rendered for the benefit of Sawgrass Mutual. Examples are using our video claims and inspection services. Class B funds are paid out annually to policyholders in November.

How do funds in the Individual Investment Account grow?

The balances of the IIA's grow as the company grows!  Each new policyholder contributes to the policyholder surplus.

What determines the total amount allocated to my account?

The amount of the total allocations are based on the growth of Sawgrass Mutual's policyholder surplus over the prior year and the discretion of the financial management team.

Can I apply funds to my deductible or annual premium?

Coming soon!  You will be able to apply your Class B funds towards your deductible or premium.

Can I expect a distribution or dividends from my IIA?

Members should not expect to receive dividends from their Class A funds in the near future.  Our primary responsibility is to act in the interest of all of our members' capital.  This means not only growing the surplus responsibly, but also to do so in a way that enables us to keep the costs of capital low.

Can I withdraw or deposit into my IIA?

No. Nor can you take a loan out against it.  Individual Investment Accounts are notional and are kept in Sawgrass Mutual accounts, not personal accounts.