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Staff ReportsJune 2, 2017

State regulators have approved two private insurers to assume more than 19,000 policies from Citizens Property Insurance Corp. during August. National Specialty Insurance Co., based in Fort Worth, Texas, will take over as many as 4,520 personal coastal residential policies. Southern Oak Insurance Co., of Jacksonville, will assume as many as 5,000 personal lines and […]

Staff ReportsFebruary 1, 2017

The Florida Office of Insurance Regulation has cleared Southern Oak Insurance Co. to take over as many as 15,000 home policies from Citizens Property Insurance Corp. Southern Oak is eligible to assume the policies effective April 18 under the “take-out” process — a way for Citizens to shift policies to private insurers. The process is […]

Michael MolineAugust 29, 2016

A group representing insurance agents has urged Florida regulators to investigate the solvency of American Colonial Insurance Co., one of the private insurers tapped to take over property coverage from the state’s insurer of last resort. The Professional Insurance Agents of Florida cited a letter dated Aug. 5 in which, the group said, American Colonial informed […]

Tag: depopulation
The Sam M. Gibbons United States Courthouse is located at 801 North Florida Ave., in Tampa, Fla. (Brooke Johnson/Fresh Take Florida)

Private insurers OK’d to take over 19,000 Citizens Insurance policies

Private insurer cleared to assume 15,000 Citizens Insurance policies

Agents, facing commission cuts, question American Colonial’s solvency