The article says that in addition to the capital infusion, Demotech relied on the fact that they FILED for rate changes as a reason to affirm an “A” rating. That’s ridiculous. Since when do rate filings impact the financial stability of a company? Shouldn’t they wait for rate approval before affirming the “A” rating? What if it doesn’t get approved?
This is probably one of the unstable companies that Mccarty wouldn’t name yesterday when he was grilled by the Senate Banking and Insurance committee. He finally fessed up and told them that he expects that a number of insurers would go bankrupt if Florida gets a big hurricane.
In case you did not bother to research what happened here, Tower Hill which has been around more than 30 years in Florida decided to buy reinsurance from a SOLVENT carrier instead of from the defunct, broke Florida cat fund. Seems like a logical move to me. I would rather be insured by a carrier that had firm reinsurance and was assurred it would get its money to pay claims instead of from a carrier that relied on Governor Crist to figure out where to steal the money from and raise taxes or pass assessments later.
The only joke with Demotech is that you eaither have an “A” rating or you are not rated. there is no “B”, C,D or F.
It is interesting to note that Allstate, State Farm, Nationwide and most well known carriers do not have an “A” rating from AM Best either. THis is due to the fact that they are writing in Florida and buying reinsurance from the defunct, broke Cat Fund. Does anyone see anything weird about that???
Since Nationwide is non renewing 60,000 home policies in Florida this year and will be suggesting or steering their policy holders to Tower Hill this seems like good timing for good press about their financial stability. It’s in the papers already that Nationwide is sending the business to them.
Could it be that Demotech changed the status of Tower Hill because Nationwide dropped 60,000 policies in Florida and is recommending that Floridians use Tower Hill Insurance? If they had a poor rating people would shop elsewhere.
Actually most of the sites that can be found on google top pages does not offer cheap prices on health insurance.If you want to find really cheap prices, you’ll have to search more…
I spend almost a month, searching cheap sites that offer health insurance, and I found only a few …
You are a joke
The article says that in addition to the capital infusion, Demotech relied on the fact that they FILED for rate changes as a reason to affirm an “A” rating. That’s ridiculous. Since when do rate filings impact the financial stability of a company? Shouldn’t they wait for rate approval before affirming the “A” rating? What if it doesn’t get approved?
This is probably one of the unstable companies that Mccarty wouldn’t name yesterday when he was grilled by the Senate Banking and Insurance committee. He finally fessed up and told them that he expects that a number of insurers would go bankrupt if Florida gets a big hurricane.
In case you did not bother to research what happened here, Tower Hill which has been around more than 30 years in Florida decided to buy reinsurance from a SOLVENT carrier instead of from the defunct, broke Florida cat fund. Seems like a logical move to me. I would rather be insured by a carrier that had firm reinsurance and was assurred it would get its money to pay claims instead of from a carrier that relied on Governor Crist to figure out where to steal the money from and raise taxes or pass assessments later.
The only joke with Demotech is that you eaither have an “A” rating or you are not rated. there is no “B”, C,D or F.
It is interesting to note that Allstate, State Farm, Nationwide and most well known carriers do not have an “A” rating from AM Best either. THis is due to the fact that they are writing in Florida and buying reinsurance from the defunct, broke Cat Fund. Does anyone see anything weird about that???
Since Nationwide is non renewing 60,000 home policies in Florida this year and will be suggesting or steering their policy holders to Tower Hill this seems like good timing for good press about their financial stability. It’s in the papers already that Nationwide is sending the business to them.
Could it be that Demotech changed the status of Tower Hill because Nationwide dropped 60,000 policies in Florida and is recommending that Floridians use Tower Hill Insurance? If they had a poor rating people would shop elsewhere.
Great information!
Actually most of the sites that can be found on google top pages does not offer cheap prices on health insurance.If you want to find really cheap prices, you’ll have to search more…
I spend almost a month, searching cheap sites that offer health insurance, and I found only a few …
Here is one of them:
http://www.NationalHealthInsurance.info
You can save up to 40% on your health insurance …
Hope that helps.