Poe Financial Group member company, Atlantic Preferred Insurance Company, announced it had assumed 12,457 wind policies from Citizen’s Property Insurance Corporation’s High Risk Account under the State of Florida’s depopulation program. Essentially, the depopulation program reduces the number of wind and hurricane policies in the state’s pool by moving them into the private marketplace. Specifically, these are coastal properties that were previously insured by the State of Florida for hurricane and windstorm. With the assumption, Atlantic Preferred will immediately be responsible for wind claims.
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