Tag Archives: united insurance takeout

Citizens Approves Another Round of Florida Homeowners Insurance Takeouts

Citizens Home Insurance Florida

Overview:

The Citizens takeouts continue. Insurers were recently authorized to assume nearly 100,000 policies from Citizens. Read more to find out the companies involved in this round of takeouts, and how successful the recent takeouts have been.

Update on Citizens Takeouts

Florida regulators approved Florida insurers to assume approximately 93,500 policies from Citizens. The companies and their allotment include:

  • Mount Beacon: 35,000
  • Anchor Property & Casualty: 28,000
  • Heritage: 20,500
  • Southern Oak: 10,000

The Tampa Tribune gave us some interesting statistics on how many of these recent takeout approvals actually converted to takeouts. In 2014, although approximately 1.1M policies were approved for assumption, insurers only assumed approximately 415,000.

In the last two years, Citizens has seen its policy count decrease from approximately 1.5M to 661,000. As a result, Citizens’s exposure has decreased from $510B to $200B.

If you want to know more about the takeouts over the past several months, here are our articles:

If you want to learn more about some of the other insurers involved in the recent takeouts (Mount Beacon, Anchor, Homeowners Choice, and more), make sure to click on the links in the bullets above, or you can view all of our Takeout articles on one page here.

If you have any questions about this article or anything else, please contact me.

Florida Citizens Takeout Update: Homeowners Choice Insurance Authorized to Assume 50,000 Citizens Policies

Citizens Property Insurance Corporation

Homeowners Choice has been authorized to assume approximately 50,000 Citizens policies. 27,000 of these policies are wind-only coverage.

For those of you keeping track, here are the details on the takeouts occurring over the last few months:

If you want to learn more about some of the other insurers involved in the recent takeouts, make sure to click on the links in the bullets above, or you can view all of these articles on one page here.


Have Any Questions about Florida Homeowners Insurance Claims?

If you have any questions about this article or Florida homeowners insurance claims and litigation, please contact us.

Florida Approves Takeout of More Than 180,000 Insurance Policies from Citizens

Citizens Property Insurance Corporation

Citizens Takeouts

Florida recently approved more than 180,000 takeouts of personal and commercial property insurance policies from Citizens. This follows September’s takeout opportunity of approximately 425,000 policies discussed in this article, and an earlier October takeout of over 200,000 policies discussed here.

In the most recent takeout, Florida regulators approved the following takeouts:

Anchor Property & Casualty Insurance Company Insurance Company – 50,000 personal residential policies

• Avatar Property & Casualty Insurance Company – 10,000 personal residential policies

Cypress Property & Casualty Insurance Company – 23,000 personal residential policies

Heritage Property & Casualty Insurance Company – 20,000 personal residential policies and up to 500 commercial residential polices

Mount Beacon Insurance Company – 38,485 personal residential policies

Prepared Insurance Company – 20,000 personal residential policies

Security First Insurance Company – 8,555 personal residential policies

Southern Oak Insurance Company –  10,000 personal residential policies

United Property & Casualty Insurance Company – 2,027 commercial residential policies

Have any more questions about this article or other Florida homeowners insurance claims issues? Please contact us.

 

 

Florida Approves Takeout of More Than 210,00 Insurance Policies from Citizens

Citizens Property Insurance Corporation

Late last week, Florida approved more than 210,000 takeouts of personal and commercial property insurance policies from Citizens.  This follows September’s takeout opportunity of approximately 425,000 policies discussed in this article.

In this October takeout, Florida regulators approved the following takeouts:

American Colonial Insurance Company – 22,050 personal residential policies

Cypress Property & Casualty Insurance Company – 23,000 personal residential policies

Heritage Property & Casualty Insurance Company – 20,000 personal residential policies and up to 600 commercial residential polices

Homeowners Choice Property & Casualty Insurance Company – 69,000 personal residential policies

Mount Beacon Insurance Company – 29,515 personal residential policies

Olympus Insurance Company – 10,000 personal residential policies

Safepoint Insurance Company – 18,000 personal residential policies

United Property & Casualty Insurance Company – 2,027 commercial residential policies

Weston Insurance Company – 19,515 personal residential policies and up to 1,781 commercial residential and non-residential policies




Have Any More Questions about Florida Homeowners Insurance Claims?

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Please contact us.


photo from: https://www.citizensfla.com/about/newsroom.cfm