March 10, 2021
American Capital Assurance Corp., a Florida-based insurer focused on commercial residential and non-residential property risks, as well as flood coverage, had its Demotech rating withdrawn and was downgraded by AM Best. Demotech announced March 5 that it had withdrawn American …
March 9, 2021
In an effort to educate consumers about contractor fraud schemes that are contributing to increased insurance rates, Florida’s Insurance Consumer Advocate (ICA) Tasha Carter has launched a new educational initiative, Demolish Contractor Fraud: Steps to Avoid Falling Victim. The new …
March 5, 2021
As the first insurer rating agency to review and rate independent, regional and specialty insurers, we have a unique understanding of niche markets and serve as a trusted resource to third parties seeking to utilize regional and specialty companies. The …
March 4, 2021
It’s the start of another Florida Legislative Session with a familiar theme — insurers pushing for reforms they say are needed to help the state’s distressed insurance market. Only this year the need is more urgent than ever, according to …
February 24, 2021
Three bills currently working their way through the Florida Legislature are designed to tackle the rising costs of homeowner roof claims, the costs of attorney fees in homeowner’s claims and issues surrounding notice to insurance carriers. The proposed legislations come …
February 2, 2021
Insurance services holding company K2 Insurance Services and New York based private equity firm Lee Equity Partners have formed American Mobile Insurance Exchange (AMIE), a reciprocal exchange that will seek to insure mobile homeowners in Florida. AMIE, which is headquartered …
January 20, 2021
Florida’s property insurance market is “spiraling towards collapse” and requires immediate attention if there is any chance of protecting the market, consumers, and ultimately, the state’s economy, according to an analysis about to be presented to the Florida Legislature. The …
December 11, 2020
AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “a-” of Tower Hill Prime Insurance Co., headquartered in Gainesville, Fla. The outlook of …
August 27, 2020
For 22 years, the Florida Association of Insurance Agents has been led by Jeff Grady, president and chief executive officer, who admits that when he started all those years ago he did not expect to “fall in love with insurance …
May 15, 2020
Capitol Preferred Insurance Co., one of the top writers of homeowners insurance in Florida, has received approval from the state’s insurance regulator to shed 23,800 policies just weeks before the start of hurricane season. In a May 12 consent order, …