Florida Regulators Approve Takeout of 425,000 Citizens Policies
Yesterday, Florida insurance regulators announced that several Florida homeowners insurance companies will have the option to takeout a total of 425,000 policies. According to the Tampa Bay Times, the two biggest approvals went to Heritage Property & Casualty Ins. Co. (approximately 70,000) and Elements Property Insurance Co. (approximately 60,000.00).
These 425,000 policies comprise nearly half of the estimated 933,000 outstanding Citizens policies.
In addition to Heritage and Elements, regulators also authorized the following companies to assume policies from Citizens:
- American Integrity Insurance Co.
- Avatar Property & Casualty Insurance Co.
- Capitol Preferred Insurance Co.
- Mount Beacon Insurance Co.;
- Olympus Insurance Co.
- Safepoint Insurance Co.
- Southern Fidelity Insurance Co.
- Southern Fidelity Property & Casualty Insurance Co.
- Southern Oak Insurance Co.
- Tower Hill Signature Insurance Co.
- United Property & Casualty Insurance Co.
- Universal Insurance Co. of North America
This will shake up First Party Property Insurance Blog’s Florida Homeowners Insurers Lists. Take a look at that page if you want to know where the policy counts stood earlier this year.
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