A subsidiary of insurance firm Penn Treaty American Corp. has temporarily suspended new sales of Florida policies pending the filing and review of its 2005 statutory audit report, the company announced this week.
Penn Treaty Network America Insurance Company expects to file its report within ten business days. The report must then be reviewed by the Florida Department of Insurance Regulation.
Florida sales have accounted for approximately 6 percent of new applications this year, the company said. Allentown, Penn.-based Penn Treaty expects the cessation to be temporary and to have minimal effect on the company’s operations.
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