The Florida Office of Insurance Regulation in recent weeks has fined five property and casualty insurers, including Heritage Property & Casualty Insurance Co., which was hit with a $1 million penalty for failing to properly handle hundreds of claims after …
The board of directors for Tampa-based Heritage Insurance Holdings has authorized the repurchase of $10 million in shares from stockholders, marking the second buy-back plan in recent months. The super-regional company (HRTG on the New York Stock Exchange), made the …
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 …
After a tumultuous year that included double-digit rate increases, an intervention by the state regulator and a merger, Florida-based insurer Southern Fidelity Insurance Co. (SFIC) and its affiliated entities have ceded a majority stake in ownership to Hudson Structure Capital …
The Florida Office of Insurance Regulation is monitoring the state’s property insurance situation that is seen as in a crisis by those in the industry. The regulator said the insurance market has been buffeted by multiple hurricanes in the last …
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 …
Texas-based private passenger auto insurer Windhaven National Insurance Co. (WNIC), a subsidiary of Windhaven Insurance, has been ordered into liquidation at the request of the Texas Department of Insurance, which was appointed as liquidator. The order for liquidation was granted …
Auto and home insurer Windhaven Insurance has alerted its agents and employees in Florida that it is winding down the insurance operations of its entities, including Windhaven National Insurance Co., ClutchAnalytics and The Hearth Group, and that its assets are …
Plans to rehabilitate Florida auto insurer Windhaven Insurance Co. have been deemed “useless” and the company will instead be liquidated. In a Jan. 6 order, Leon County Court Judge Ronald W. Flury said the Florida Department of Financial Services, which …
The future of another Florida domestic insurer is now in the hands of state regulators. Non-standard private passenger auto insurer Windhaven Insurance Co. (WIC), based in Miami, has been placed into rehabilitation by a Florida court and the Florida Department …
