News

Judge orders Coral Insurance into receivership

A Leon County Circuit Court judge has put Coral Insurance into receivership , effectively ending the company’s operations. Hollywood-based Coral has an agreement with Security First Insurance and MacNeill Group to provide replacement coverage for its policyholders. The Florida Department of Financial Services is the receiver for the company. “Our top priority is to help […]

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State Farm leaving Florida property insurance market

More than 1 million customers will be affected Little more than two weeks after state regulators turned down its request for a 47.1 percent rate hike, State Farm announced Tuesday it would stop offering property insurance in Florida. And although policy holders will have up to two years to find another insurer, Gov. Charlie Crist […]

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CFO Sink Statement On People’s Trust Consent Order With OIR

TALLAHASSEE– Florida Chief Financial Officer Alex Sink today released the following statement in response to the Office of Insurance Regulation’s (OIR) Consent Order with People’s Trust Insurance Company:   “The Office of Insurance Regulation’s Consent Order with People’s Trust Insurance Company shows that People’s Trust committed numerous violations of the laws designed to protect Florida’s […]

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2009 Hurricane Forecast

AccuWeather.com Chief Long-Range and Hurricane Forecaster Joe Bastardi has released an early hurricane season forecast for 2009 that calls for fewer landfalls in the United States, as well as a lower overall number of named storms. However, storms may be more likely to form in the Atlantic Basin closer to the coast and the possibility […]

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Chubb Offers Coverage to Upgrade Green After Home Loss

If a home is damaged or destroyed, homeowners may want to rebuild with green materials and processes, but the additional cost can be prohibitive. Now, homeowners can obtain insurance through the Chubb Group of Insurance Cos. that will pay to rebuild using environmentally-friendly materials, low-impact processes and ultra-efficient heating and cooling technology after an insured […]

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Northern Capital Looking to Write State Farm Florida Insureds

Northern Capital Insurance Group, a Florida-based homeowners, commercial and auto insurance provider, said it is prepared to insure 50,000 State Farm Florida customers as that insurer withdraws from the state’s property insurance market. Northern Capital began writing homeowners policies in Florida in August, 2006. the company said it currently provides $20 billion of insurance coverage […]

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Florida’s Peninsula Insurance Ready to Write State Farm Policies

Florida Peninsula Insurance Co., a Boca Raton-based domestic insurer writing homeowners, condo and renters policies statewide, said it is prepared to insure up to 100,000 State Farm Florida customers as that insurer withdraws from the state. Peninsula said it is ranks fifth among domestic writers and in the top 10 of all companies offering multi-peril […]

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More Home Fires Occur During Holidays Than Any Other Time

Travelers Insurance is reminding consumers that while they are home for the holidays they should remember that more home fires happen between Dec. 24 and Jan. 6 than any other time of the year. According to the National Fire Protection Association (NFPA), traditional decorations and rituals can present some unique fire hazards in the home. […]

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Insurance Company Complaint Comparison

What is a complaint comparison? Why is it important to know the complaint comparison of an insurance company? A complaint comparison shows the number of closed consumer complaints logged for each insurance company during the last twelve months and provides company size comparisons by: Policies in Force, for Residential P&C – Homeowners Enrollees, for Health […]

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Contracting Citizens; Florida’s Largest Insurer Gets Smaller

Last year’s hurricane season may have been relatively calm, but that didn’t stop Florida’s one-time “property insurer of last resort” from building up a whirlwind of growth. At the end of October 2007, Citizens Property Insurance Corp. had more than 1.4 million policies, with the bulk of them in high-risk, wind-only accounts. At the time, […]

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