Florida regulators have approved another reciprocal property insurance company and it has received ratings from two financial rating firms. Manatee Insurance Exchange, a spinoff from Tampa-based Safepoint Insurance Co., was granted a certificate of authority Feb. 2 by the Florida …
SafePoint Insurance Co. will assume approximately 24,000 homeowners policies in Louisiana from Americas Insurance Co., which was placed into receivership in January after suffering heavy losses from a series of hurricanes in 2020 and 2021. Louisiana Insurance Commissioner Jim Donelon …
SafePoint Insurance Co. will assume 30,000 Louisiana homeowners policies from two insolvent insurers, Insurance Commissioner Jim Donelon announced Dec. 29. The 19th Judicial District Court approved terms of the takeover, which is retroactive to Dec. 1. The Louisiana Department of …
The Louisiana Department of Insurance (LDI) estimates that the state’s property insurer of last resort has gone from the third largest property insurance company to the 35th in 10 years. The eleventh round of depopulation is underway for the Louisiana …
Insurance Commissioner Jim Donelon reported that three insurance companies new to Louisiana are participating in the latest round of depopulation of Citizens Property Insurance Corp. Citizens is the state’s property insurer of last resort. Its book of business swelled following …
