New Insurance Sector May Be ’Accident Waiting to Happen’ in Florida

Thursday, September 11th, 2014 Auto Property

As Florida seeks to revive its private home insurance market after almost a decade without a hurricane, homeowners are pouring $6 billion a year in premiums into a new generation of small, in-state insurance companies with an unproven record of withstanding a major hurricane. A consumer-oriented rating agency, Weiss Ratings, recently awarded the companies a median grade of C-minus, and even without a major storm to drive up claims, 11 of them have already failed in Florida since 2006, according to state records.


External References & Further Reading
http://www.reuters.com/article/2014/09/11/us-usa-florida-insurance-idUSKBN0H614420140911?feedType=RSS&feedName=domesticNews
SOS Ladder AssistMid-America Catastrophe ServicesAspen Claims ServiceWeller SalvageNationwide Overspray