Florida Insurer Rating Criteria Suspended by Demotech

As of February 6, 2017, Demotech has announced that due to recent Florida Supreme Court decisions and ongoing abuse in Florida’s insurance market, Demotech has changed the criteria it uses when rating Florida property insurers in the state. Demotech has suspended rating guidelines it uses for the 57 companies it rates in Florida due to “uncertain operating environment in the state.” The rating agency advises carriers to ensure that they are adequately capitalized to the now uncertain operating environment until rating revisions come out in March.

Please click here to read the full article on insurancejournal.com.

If you have any questions or would like to discuss this issue in greater detail, please feel free to contact property attorney, Patricia Preciado at ppreciado@roiglawyers.com or  954-246-5393.