State warns of havoc for homeowners if 17 insurers lose strength ratings

State insurance regulators and the Florida Association of Insurance Agents are outraged over a letter that Ohio-based Demotech, which assigns financial strength ratings to Florida-based insurers, sent to 17 of those insurers telling them that their A rating will be downgraded on July 26. The downgrades threaten to throw the insurance market into turmoil.

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