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In late July 2022, financial strength rating company Demotech announced it was considering downgrading the financial strength ratings of 27 property insurance companies. The situation is complex.
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 ...
In another sign of problems in Florida’s property-insurance market, a financial-ratings agency has withdrawn ratings for two insurance companies and downgraded another company.
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 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.
Edison Insurance Company is a Florida-based home insurance company that was founded in 2005. ... A.M. Best is an independent insurance rating agency that provides credit ratings and financial data ...
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