UPC Insurance Calls Off Deal to Acquire Sunshine State Insurance

By Andrew G. Simpson | May 28, 2014

  • May 28, 2014 at 1:24 pm
    Cheetoh Mulligan says:
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    This is not a good sign for Sunshine State.

    • May 29, 2014 at 2:03 pm
      MeIsEinstein says:
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      Agreed. This can’t be good news and makes me wonder what UPC must have seen to back off the deal.

  • May 28, 2014 at 1:28 pm
    JACK says:
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    UPC getting ready to cancel 1000′s in SC and raise rates on the others big time. It really sucks for those agents that don’t mind selling the demotech rated companies. Now they get to rewrite it…lol.

    • May 29, 2014 at 10:20 am
      Gmoney says:
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      Jack – what about the agents selling AM Best rated carriers that get down graded and/or go insolvent? It happens to both demotech and am best. I dont like monopolistic rating bureaus and you shouldnt either.

      • May 29, 2014 at 2:06 pm
        MeIsEinstein says:
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        Funny thing is I just had an AM Best rated carrier in Florida non-renew a bunch of policies and increase the rates on the remaining policies, so go figure…. lol.

  • May 29, 2014 at 1:35 pm
    The Fieldman says:
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    Both Best and Demotech receive money from companies they rate. The companies ‘buy’ their rating. I like Weiss but I don’t even think they saw the HomeWise failure coming.

  • June 3, 2014 at 6:00 pm
    GCB says:
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    What does it mean for the future of US RE?



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