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Citizens, which has now crossed more than 1.4 million policies, has grown too big, too fast and concerns are growing that a major storm in Florida could deplete its ability to pay claims.
Some companies stopped writing policies in high-claim South Florida, refused to renew where roof age exceeded 10 years or the home was built prior to Hurricane Andrew, before Hurricane-proof building codes were adopted. Since April 2021, four insurers were closed as insolvent.
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]
GEICO is a wholly owned subsidiary of Berkshire Hathaway, which provides coverage for more than 24 million motor vehicles owned by more than 15 million policy holders as of 2017. GEICO writes private passenger automobile insurance in all 50 U.S. states and the District of Columbia. The insurance agency sells policies through local agents ...
In four years, the company’s policies more than tripled, going from little more than 400,000 in 2019 to an estimated 1.4 million by the end of September 2023, according to the company’s website.
Data from Citizens, the state-chartered property insurer of last resort for homeowners who can’t find coverage in Florida’s shaky home insurance market, show the company dropped 2,267 policies ...
GuideWell, formally GuideWell Mutual Holding Corporation (holding company for Florida Blue), is a mutual insurance holding company primarily focused on health insurance in Florida. It was created in 2013 by a reorganization initiated by Florida Blue, a member company of the Blue Cross Blue Shield Association . [ 4 ]
This page was last edited on 23 December 2023, at 23:08 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
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