“Every single property owner in the state is going to pay for failed insurers with a special assessment that will be tacked on to their next home insurance renewal bill."
Florida-based FedNat Insurance Co., six months after it pulled out of other states to concentrate on Florida, woke up to some potentially bad news on Good
The S rating, because it indicates that FedNat is still financially sound, will not trigger the same alarm level that compelled the state to force several other insurers into receivership and dissolution over the past year. Paying the claims consumed funds and time that Demotech expected FedNat to devote to its recently revised business model,“ which is to.
Yet another Florida-based insurer has lost its A financial stability rating. FedNat, based in Sunrise, was downgraded from an A (Exceptional) to an S (Substantial) by analysis firm Demotech on Friday. The company insures nearly 190,000 properties in Florida.