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14 Florida insurance companies are in liquidation: American Capital Assurance Corporation. Avatar Property and Casualty Insurance Company. FedNat Insurance Company. Florida Specialty Insurance Company
Florida's homeowners insurance crisis has become a nightmare for many homeowners, driving them out of the state. Home insurance premiums continue to increase, with limited competition in the market.
Florida's state-funded insurer, Citizens Property Insurance, has become the top insurer for the state after taking on policies ceded by other companies that have pulled back or left the state.
Collectively, the market has shouldered Florida homeowners with average insurance costs of $4,060 last year, nearly $1,000 higher than any other state, according to Keys' data.
Both channels market the products: homeowners, auto, landlords, boat, liability, commercial and umbrella insurance. Areas of operation include Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah, Virginia, Washington and Washington, D.C. [1] CSE owns and markets a trademarked auto insurance product called SAVE (Savings Advantage by Vehicle) whereby drivers pay for the exact miles they ...
New insurance companies in Florida must be approved by the Office of Insurance Regulation (OIR), which reviews the firm's business plan, projections and financial condition. The judgment of the OIR has been questioned because six of the 18 companies licensed to write "takeout" policies between 2007 and 2011 failed, even though Florida had no ...
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