So Federated National is told by Demotech that they’ll need an additional $10 million to keep their A rating. On the same day this is announced, parent company announces their buying another troubled insurer.
We need some sort of property insurance reform. State windpool program like flood except all premiums are actuarialy sound and paid to homeowners carriers and a portion is paid into a separate tax free fund to pay claims and purchase reinsurance for the whole state.
THIS IS GETTING VERY SCARY RIGHT BEFORE HURRICANE SEASON!
I do not know what is going on with Homewise, but I just was sent a nonrenewal letter from Homewise Insurance as well. According to Homewise insurance my home insurance is going to exp 10/10. Maybe because I am at the lowest income rank. I may not be rich but I work I pay my taxes every year I would of liked to be treated with more dignity.
Homewise Preferred sent letter saying they wouldn’t renew. Then a second letter saying that they might not be able to cover losses from multiple storms, suggested we look into getting another policy before the renewal date. The company wants US to let them off the hook. CEO lives the high life while forsaking a valid contract.
I went to my All State office to look into changing from State Farm and they don’t take anymore new policies so they act as a broker. They got me a policy with HomeWise and now I am hearing all this weird stuff plus a friend of mine said they cancelled her last year so how did I get a policy from a compant that is cancelling policies? This is very worrisome.
So Federated National is told by Demotech that they’ll need an additional $10 million to keep their A rating. On the same day this is announced, parent company announces their buying another troubled insurer.
Anyone want to chime in on this one?
The bad get worse and the weak get weaker.. when the wind blows, the State of Florida better be ready to pony up a bunch of cash..
Who is 21st Century holding company? It was at one time AIG, then went to Zurich, now the holding company is purchasing? Who is the holding company?
We need some sort of property insurance reform. State windpool program like flood except all premiums are actuarialy sound and paid to homeowners carriers and a portion is paid into a separate tax free fund to pay claims and purchase reinsurance for the whole state.
THIS IS GETTING VERY SCARY RIGHT BEFORE HURRICANE SEASON!
21st Century Holding Company is publicly traded. They are not now nor have they ever been affiliated with AIG.
They just canceled my policy with a letter on the last day of the policy. No warning really. Home built in 2005. Shedding risk?
I do not know what is going on with Homewise, but I just was sent a nonrenewal letter from Homewise Insurance as well. According to Homewise insurance my home insurance is going to exp 10/10. Maybe because I am at the lowest income rank. I may not be rich but I work I pay my taxes every year I would of liked to be treated with more dignity.
Just got my non-renewal letter. Says they are no longer offering resisential coverage. I have till Oct to find new insurance.
Homewise Preferred sent letter saying they wouldn’t renew. Then a second letter saying that they might not be able to cover losses from multiple storms, suggested we look into getting another policy before the renewal date. The company wants US to let them off the hook. CEO lives the high life while forsaking a valid contract.
I went to my All State office to look into changing from State Farm and they don’t take anymore new policies so they act as a broker. They got me a policy with HomeWise and now I am hearing all this weird stuff plus a friend of mine said they cancelled her last year so how did I get a policy from a compant that is cancelling policies? This is very worrisome.