Orderly Runoff Didn’t Work; Florida’s United P&C Now Insolvent, Headed for Liquidation

By | February 20, 2023

  • February 21, 2023 at 12:31 am
    th says:
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    It is really amazing it took this long. The very 1st day upc reported the claim amount they had how they didnt say from that day insolvency was going to happen is almost criminal. Everyone with brain new this was going to happen, yet it took months for this to happen why.

    • February 21, 2023 at 5:13 pm
      FL Analyst says:
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      See the temporary market stabilization plan introduced by Ronny D’s admin -> ole Ron’s solution was designed to make struggling insurers’ FSR more palatable for Freddie & Fannie, and the assumption was the Reinsurers would accept it too. However, in UPC’s case, it did not appear to adequately ease Reinsurer’s concerns to secure adequate Reinsurance.

      • February 21, 2023 at 5:17 pm
        FL Analyst says:
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        Then throw in Ian and a directionless OIR up until last week when new Comish started – and Voila!

  • July 24, 2023 at 7:14 pm
    Rhonda White says:
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    Very strangely,, I have received a renewal building for seven different apartment buildings from UP&CIC for policies that supposedly expire 7/31/23. I never received a notice they were no longer in business from either them nor my insurance agent.

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