October 29, 2020
After years of warnings that the Florida property insurance market was heading towards an availability crisis, many in the industry say the moment of reckoning has arrived. They blame unchecked claims litigation from non-catastrophe water losses and rising reinsurance rates …
February 18, 2020
The Florida Office of Insurance Regulation has approved a plan for Homeowners Choice Property and Casualty Insurance Company, a subsidiary of HCI Group, to provide replacement policies for Anchor Property and Casualty Insurance Co. policyholders. The approved plan provides policyholders …
January 15, 2020
Two Florida-based homeowners insurers, Anchor Property & Casualty and Anchor Specialty Insurance, have succumbed to market pressures in the state and will be acquired by other companies. Tampa, Fla.-based HCI Group has entered into a preliminary agreement for its subsidiary …
October 7, 2019
Florida personal lines insurer Florida Specialty Insurance Co. (FSIC) has been ordered into receivership and will be liquidated after state regulators determined the company is insolvent and unable to establish a viable business plan moving forward. The Florida Department of …
February 5, 2018
Lake Geneva, WI, February 5, 2018- Following up on a sold-out inaugural conference last year, the industry’s second annual Super Regional P/C Insurer Conference has been scheduled for July 22-24, 2018 at the Grand Geneva Resort & Spa in Lake …
September 7, 2017
Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, but the risk of such a storm has not gone away or even declined. In fact, the state’s risk of destruction …
August 28, 2017
Though Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, the risk of such a storm has not gone away or even declined. In fact, the state’s risk of destruction …
August 23, 2017
Just a day after being downgraded by ratings agency Demotech, Florida-based insurer Sawgrass Mutual Insurance Company has revealed it is under administrative supervision by the Florida Office of Insurance Regulation. According to an amended consent order for administrative supervision dated …
April 25, 2016
Although the role of catastrophe reinsurance in a wind exposed region is intuitively obvious to an insurance professional and most insurer rating agencies, the need for transparency, education and open dialogue on this important topic is necessary. Consumers, members of …
February 16, 2016
Demotech Inc. has affirmed the “AAA” Financial Stability Rating (FSR) assigned to Pennsylvania Intergovernmental Risk Management Association (PIRMA), a self-funded public entity pool. Demotech said PIRMA is a local government risk pool that offers comprehensive liability and property coverages specially …