Update: Demotech Evaluating 2019 Results of Florida Carriers, Expects ‘Many’ Downgrades

By | March 4, 2020

  • March 4, 2020 at 9:41 am
    Tiger88 says:
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    Come on Joe, we need to know who is getting downgraded and we need to know now. There are hundreds of thousands of policies in Florida that will need to be moved to stable carriers or Citizens. The sooner that consumers and agents know the better. the time is up so get that info our there!

    • March 4, 2020 at 10:23 am
      Actuary says:
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      I imagine that they are waiting for everyone’s statutory 2019 statements to come out to make their decisions which should be later this month.

  • March 4, 2020 at 1:40 pm
    TxLady says:
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    IJ keeps putting out these teasers. Give us the real news and if you don’t have it yet, stop with the teasers.

  • March 4, 2020 at 2:14 pm
    Arthro says:
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    Didn’t Demotech threaten mass downgrades a few years ago, only to end up backing down?

    • March 4, 2020 at 3:52 pm
      Actuary says:
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      Yes, they “persuaded” some companies to get outside funding to shore up their surplus and loss reserves to avoid a downgrade. The difference now, it appears, is that they don’t think it will be as easy to find money as it was a year or two ago. That and the overall market has not improved since then. Will they follow through this time? Who knows but I think it is a more plausible threat.

    • March 5, 2020 at 9:48 am
      Tiger88 says:
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      Yes, they did. But, as noted, there just isn’t the $ to put some of these entities right aka “no one wants to throw good money after bad”. But, to your point, Demotech better follow through 100% on their downgrade process or they will be useless to all concerned and then we in Florida will be left without a credible rating system that lenders will accept.



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