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Florida to Shut Down Insolvent Northern Capital

Florida insurance officials have moved to shut down Northern Capital Insurance Co. after concluding that the firm is insolvent. The Office of Insurance Regulation (OIR) made an official request to the state’s Department of Financial Services (DFS) to initiate delinquency proceedings on Wednesday. Northern Capital CEO Wayne Fletcher and company directors signed an order consenting…

Florida Property Insurance: Northern Capital Loses Rating; HomeWise Consolidates

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…

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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