Florida’s largest property insurer wants to roll back coverage on high-value homes and lower its coverage limits on homeowners’ liability, as part of a broader plan to reduce its exposure in the state. Florida Governor Rick Scott last month ordered …
A Florida judge has ordered a homeowners’ insurer to shut its doors and hand its business affairs over to the state after state regulators found it no longer has enough money to pay its bills. Florida’s Division of Rehabilitation and …
Florida has a new player in the insurance market for high-value homes and inland marine policies. Universal Insurance Holdings Inc. recently announced that its wholly-owned subsidiary, American Platinum Property and Casualty Insurance Corp., had issued its first Florida homeowners’ policy. …
Florida’s largest property insurer wants sweeping changes — including the ability to charge higher rates — in the coming year. It may be a hard sell during a contentious election year, but the board that governs Citizens Property Insurance voted …
Florida-based HomeWise Insurance Co. is now is full run-off mode as it attempts to pay all outstanding claims and other debts in order to avoid being taken over by Florida regulators. The Clearwater, Fla.-based home insurer has jettisoned the remainder …
Florida policyholders of HomeWise Insurance should not see dramatic changes in their renewal premium if their policies are taken over by Homeowners Choice, according to the company official. The policyholders have the option of staying with the shrinking HomeWise or …
Homeowners Choice Property and Casualty Insurance Co. said it has acquired HomeWise Insurance Co.’s book of business in Florida. Approved by state regulators, the deal adds 70,000 Florida homeowners to Homeowners Choice. Out of the assumed policies, 28,000 are in …
Florida homeowners who insure their homes through the state-run property insurer, Citizens, will have less coverage available next year. Citizens Property Insurance Corp., in a message to agents, said it will no longer provide coverage for most structures beyond the …
Florida residents covered through the state’s largest homeowner insurer will soon pay more for coverage after the insurer ratified a number of rate hikes recently approved by regulators. The Citizens Property Insurance Corp. board of governors voted unanimously to approve …
Florida regulators held a public hearing last week to consider the First Community Insurance Co.’s request to raise its homeowner rates a statewide average by 23.3 percent. The company said there are two driving forces behind the rate proposal. One …
