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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 ...
Florida has always been a complex home insurance market. Since 2017, eleven property and casualty companies that offered homeowners insurance in Florida liquidated. Five of those companies ...
Some in the insurance industry say that the diminishing number of insurers in Florida is due to the fact that it is too easy to sue insurance companies there. And those lawsuits could be ...
The Citizens Property Insurance Corporation, a state-established insurance nonprofit company, has a $100 million annual legal defense fund and 20,000 open lawsuits pending, reports III.
In 2017, UPC Insurance merged with American Coastal Insurance Co. [10] Journey Insurance Company offers homeowners and commercial residential property insurance through independent agents and brokers in Florida, South Carolina, and Texas. [11] It received an “A−“ Financial Strength Rating and “a-“ Issuer Credit Rating from A.M. Best. [12]
The company was co-founded by George Schaeffer and Michael Gold in 2008. [3] According to the South Florida Business Journal, People’s Trust Insurance was the second-fastest growing company in South Florida from 2012 to 2014. [4] The home insurance company has more than 350 employees, with 300 in Deerfield Beach. [5]
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