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In 2022, news that 27 of Florida’s property insurance companies were potentially facing a financial rating downgrade from Demotech, the state’s primary financial rating firm, created panic in ...
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“Since 1996 in Florida, Demotech has provided neutral, unbiased ratings to property insurers, among the approximately 50,000 such ratings we have produced across the country.
Demotech is the company that issues financial stability ratings for 50 Florida-based insurers. On March 23, 2022 the top five executives from Demotech sent a letter to Florida's Governor plus the Senator and House leadership entreating them to pass reforms before the start of Atlantic hurricane season June 1.
Demotech provides an important service within the ratings community and plays a very important role in the insurance market. In 2023, researchers from Columbia Business School, Harvard Business School, and the Federal Reserve Board examined the quality of Florida property insurers rated by Demotech versus traditional rating agencies, and found ...
Florida’s crumbling homeowners insurance market is exposing one of the state’s long-running flaws: its reliance on a single company to certify the majority of the state’s insurers.
These are AM Best, Standard & Poor’s, Moody’s and Demotech. AM Best The most well-known insurance specific rating company, the scores provided by AM Best are often considered the yardstick for ...
Insurance analysts express doubts Florida $1.5 million plan will have an impact on Florida's crisis within the private home insurance market.