Florida insurance carriers News

State Farm Owes $2.6M to Florida, Court Says in Reading of ‘Dense’ Tax Code

State Farm Insurance and its subsidiaries owe the state of Florida more than $2.6 million in back taxes and interest after a state appeals court ruled against the insurer on an interpretation of state and federal tax laws. “We disagree …

Florida Regulators, FAIA Slam Demotech for Reported Plans to Downgrade 17 Carriers

Florida’s top insurance regulators and the Florida Association of Insurance Agents on Thursday blasted the Demotech financial rating firm after the organization reportedly notified 17 insurers that they will soon be downgraded. Demotech President Joe Petrelli said Thursday evening that …