Florida insurer insolvency News

Regulator Deems Florida-Based American Capital Assurance Corp. Insolvent

After negative moves by ratings agencies last month to address its financial issues, Florida’s insurance regulator says American Capital Assurance Corp. (AmCap) is insolvent and should be placed in receivership, In a letter dated April 2 to Chief Financial Officer …

Florida Specialty CEO Disputes State Regulator’s Claims, Says Insurer Not Insolvent

The head of recently shuttered Florida Specialty Insurance Co. says that claims by Florida’s insurance regulator that the company is insolvent are untrue. The company’s CEO, Susan Patschak, argues Florida’s Office of Insurance Regulation liquidation and receivership order should be …

State Finds Florida Specialty Insurance Insolvent; 90K Homeowners Lose Coverage

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 …