In accordance with a previously-agreed restructuring plan with lenders, Patriot National, Inc., an insurance technology and outsourcing firm, has officially filed for chapter 11 bankruptcy protection and reorganization. The chapter 11 filing was made Jan. 30 in the U.S. Bankruptcy …
Recent Florida Supreme Court decisions and ongoing abuse in Florida’s insurance market have led a ratings company to change the criteria it uses when rating insurers in the state. The announcement comes as insurers get ready to announce their 2016 …
The Florida Department of Financial Services (DFS) will not appeal the recent jury decision that found Deloitte & Touche not liable in the insolvency of Tampa-based Poe Financial Group following the unprecedented series of hurricanes in 2004 and 2005. In …
Florida’s Heritage Insurance Holdings Inc. said it has it assumed approximately $59 million in annualized premium from the insolvent Sunshine State Insurance Co. Effective June 27, 2014, the policies were assumed by Heritage’s wholly-owned subsidiary, Heritage Property & Casualty Insurance …
A Florida judge has signed-off on a plan by regulators to allow a failed Florida property insurer’s policyholders to be assumed by another company, although policyholders will retain the option to seek coverage elsewhere. Leon County Judge Kevin Carroll on …
Florida regulators have taken over an insolvent domestic residential property insurer, but a deal is in the works for another private company to assume the insurer’s 37,000 policies. A Leon County Circuit Court judge issued an order earlier this week …
