Ashmere Insurance Co. News

Patriot National to Reorganize for Acquiring Lenders; Subsidiaries to File Chapter 11

Patriot National Inc., which provides technology, outsourcing and underwriting services to the insurance industry, has announced a plan of reorganization as part of a restructuring support agreement (RSA) with its lenders, Cerberus Business Finance, LLC and its affiliates, and TCW …

Bedrock Insurance to Acquire Ashmere Insurance, Unit of Struggling Patriot National

Bedrock Insurance Group Holdings LLC (BIGH), based in New York, has agreed to acquire Deerfield Insurance Holdings Inc. and its operating subsidiary Ashmere Insurance Co. (AIC), a workers’ compensation specialty insurance company. Founded in Fort Lauderdale, Fla. in 2016, AIC …

Florida Puts Workers’ Comp Carrier Guarantee Insurance In Receivership

Florida insurance regulators have placed workers’ compensation carrier Guarantee Insurance Co. in receivership due to inadequate reserves. According to documents from the Florida Office of Insurance Regulation (OIR), the company was materially under-reserved at year end 2016 and consented to …