Florida homeowners insurance News

Florida Peninsula Insurance Launches Online Quoting for Homeowners Coverage

Florida Peninsula Insurance Company, a Florida homeowner insurance carrier, has launched a new online system offering homeowners insurance quotes to consumers. According to Clint Strauch, president of Florida Peninsula system allows Florida consumers to shop and compare coverage and price, …

Velocity Risk Underwriters Expands Coverage to Coastal Homeowners in Florida

Velocity Risk Underwriters has expanded its Florida home insurance products and is now writing coastal homeowners policies statewide. Velocity offers an A.M. Best “A” rated coastal homeowners program through Texas-based State National Insurance Company. Velocity had been writing home insurance …

Florida Supreme Court Rules Against Insurer in Concurrent Loss Case

The Florida Supreme Court has ruled in favor of policyholders seeking coverage on claims where there is the possibility of multiple concurrent losses but at least one of the losses is covered under their policy. Though the decision can have …

Florida Hurricane Fund Financially Sound, Ready for Storm Season

Florida’s continued lucky streak when it comes to dodging hurricanes is helping a key state fund reach its best financial shape ever in the two decades it has been in place. The state-created fund known as the Florida Hurricane Catastrophe …

Edison Insurance Launches Online Quoting System for Florida Homeowners Coverage

Edison Insurance Co. has launched an online quoting system that offers specific premium quotes for homeowners insurance coverage in Florida. According to Clint Strauch, Edison Insurance president and co-founder, Edison has developed a system that allows potential policyholders to obtain …

A.M. Best Assigns Ratings to Tower Hill Prime Insurance Co.

A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Tower Hill Prime Insurance Company (Tower Hill Prime) in Gainesville, Fla. The outlook assigned to both ratings is stable. The ratings …

President of Florida’s Homeowners Choice to Retire

President of Homeowners Choice Property & Casualty Insurance Co., Scott Wallace, plans to retire at the end of May 2015 after 37 years in the insurance industry, according to a statement from Homeowner’s Choice’ parent company, HCI Group, Inc. (HCI). …

Florida OIR Approves Removal of Up to 427,584 Policies From Citizens

The Florida Office of Insurance Regulation (OIR) announced that it has approved the removal of up to 425,357 personal residential policies and 2,227 commercial residential policies from Citizens Property Insurance Corp. by 14 companies. The OIR said Thursday this is …

Florida’s Federated National Raises $40M in IPO

Federated National Holding Co., a Florida-based property/casualty insurer, announced the closing of its public offering of 2,358,975 shares of its common stock, which includes 307,692 shares sold pursuant to the exercise of the 30-day option granted to the underwriters to …

Federated National Launching Another Florida Home Insurer, Monarch National

Florida homeowners’ insurer Federated National Holding Co. and the Canadian bank and investment manager C.A. Bancorp Inc. have agreed to form a new Florida-based homeowners insurance carrier to be named Monarch National Insurance Co. Both FNHC and C.A. Bancorp are …