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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 ...
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.
Florida Peninsula began writing home insurance in Florida in April 2005. It sells property coverage exclusively, insuring nearly 150,000 properties throughout the state through a network of 2,500 ...
CNO Financial Group, Inc. (formerly Conseco, Inc. (from Consolidated National Security Corporation)) is an American financial services holding company based in Carmel, Indiana. [4] Its insurance subsidiaries provide life insurance , annuity and supplemental health insurance products to more than four million customers in the United States .
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
The Florida Insurance Guaranty Association board met on March 31 and filed for an emergency assessment of 1% on all Florida property insurance policies. [32] That is in addition to a 0.7% for 2022, a 1.3% assessment from July 1 2022 to June 30 2023, and another 0.7% ending December 31 2023. [ 32 ]
The crisis in the Florida insurance market. Florida has always been a complex home insurance market. Since 2017, eleven property and casualty companies that offered homeowners insurance in Florida ...
Florida's Division of Insurance Fraud continues to lead the fight against insurance fraud under the leadership of Colonel John Askins. During Fiscal year 2008/2009, investigative efforts by The Division of Insurance Fraud resulted in 982 cases presented for prosecution, 834 arrests, and 532 convictions. Also during Fiscal Year 2008/2009, The ...