Blog: Florida Insurance Companies

One fast-growing Florida homeowner insurer has had its rating pulled by its rating agency and reportedly halted new business while another domestic carrier is consolidating its business into one company from two. Northern Capital Insurance Co. — named the fastest growing small company in the nation by Inc. Magazine in 2009 —did not come up…

A state audit released in January could spark a fierce legislative battle this spring and raises additional concerns about the viability of both Citizens Property Insurance Corp. and the Florida Hurricane Catastrophe Fund (Cat Fund). State auditors found that Citizens’ policyholders who hire public adjusters wind up getting more money for their claims than those…

One of Florida’s young property insurance companies, Magnolia Insurance Co., has been stripped of its financial rating by rating firm Demotech, Inc. Demotech assigned its Financial Stability Rating of A, Exceptional to Magnolia in October, based on what it said was extended discussion with the insurer’s management and the promise that a business plan with…

I had my roof checked by two roofing companies because our home is 16 years old and I wanted to find out the condition of my roof, we had a store in May the roof leaked, I had state Farm out and they denied a roof problem, in otherwords they would not cover the roof.…

The controversy over the Los Angeles billboard telling the public “You Can’t Trust Mercury Insurance” could soon become a lawsuit. Attorneys for Consumer Watchdog, the group that put up the message, have sent a letter to CBS Outdoor, Inc., the billboard owner, threatening legal action to force them to restore the sign if the company…

A class-action settlement involving homeowners policies written by Nationwide Mutual Insurance Co. and its affiliates could lead to homeowners receiving money for claims submitted over the last 13 years. The settlement is between Nationwide and its affiliates and homeowners policyholders who say they were not paid enough for claims submitted between 1996 and March 20,…

A Miami lawyer has filed class action suit against The Hartford alleging the company failed to pay replacement cost on Hurricane Wilma claims to insureds who had purchased the coverage. The suit claims The Hartford refused to pay replacement cost coverage unless and until the insured actually replaced the property, which lawyer Steven Simon says…

Allstate Floridian Insurance Co. and Allstate Floridian Indemnity Co., property insurance subsidiaries of Allstate Insurance Co., have changed their names to Castle Key Insurance Co. and Castle Key Indemnity Co., respectively. Mike Sheely, Allstate field vice president for Florida, said the change should be “seamless” for customers. Allstate said the name changes were made in…

As millions of U.S. households face financial hardship in the current U.S. recession, retaining existing customers has never been more important. For insurance carriers in terms of long-term profitability, customer retention is tops, according to the J.D. Power and Associates 2009 Personal Insurance Retention Special Report. The report finds that in the past 12 months,…

Edison Insurance Company Federated National Insurance Company First Home Insurance Company Florida Peninsula Insurance Company Homeowners Choice Property and Casualty Insurance Company HomeWise Preferred Insurance Company Landmark One Insurance Company Magnolia Insurance Company Northern Capital Insurance Company Southern Fidelity Insurance Company Southern Oak Insurance Company Sunshine State Insurance Company United Property & Casualty Insurance Company