Florida Peninsula Managers, the managing general agency for Florida Peninsula Insurance and Edison Insurance, has officially changed its name to Windward Risk Managers, the name of the company that has managed it for years. The change comes a month after …
One year after it was approved for the Florida market, Mainsail Insurance Co. has been sold to Emerald Bay Risk Solutions, an underwriter and fronting carrier that was launched earlier this year. The move will help expand business in the …
Floridians with homes in the ritziest neighborhoods that include Coral Gables and Naples are experiencing the nation’s biggest increases in real estate wealth as markets in the Sunshine State supplant those in California and New York at the top. In …
Heritage Insurance Holdings Inc. (HRTG) on Thursday reported fourth-quarter net income of $12.5 million, after reporting a loss in the same period a year earlier. For the year 2022, though, the company reported that its loss widened to $154.4 million, …
The Demotech insurance industry rating firm has withdrawn the financial stability rating for Southern Fidelity Insurance Co. after the carrier said it was unable to complete its reinsurance program at the start of hurricane season. Southern Fidelity was founded in …
Another Florida property insurer is taking major steps to cut its losses, including suspending the writing of new homeowner policies starting this week – the latest warning sign about the state’s distressed insurance market. Florida Farm Bureau Insurance, a 50-year-old …
More than 50,000 Florida policyholders will soon be looking for a new carrier for their homeowners insurance after three Florida-based companies were approved by the state regulator to drop the policies. The moves come just a few weeks before the …
The Florida Office of Insurance Regulation will conduct a rate hearing on Monday, March 15 on proposed rate increases from Citizens Property Insurance Corp. The hearing will be held virtually at 9 am EST and will include testimony and public …
After holding off on approving its 2021 rates last month, Citizens Property Insurance Corporation’s Board of Governors has approved rate recommendations that the insurer says will make its rates more competitive with the private market to slow the flow of …
Florida homeowners’ insurance specialists are reporting continued performance deterioration and a decline in capitalization levels, despite the most severe losses from the record 2020 hurricane season occurring outside of the Florida market, Fitch Ratings said in a recent report. According …
