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Insurance ratings agency says 9 Florida insurers must improve performance

Insurance ratings agency says 9 Florida insurers must improve performance While all were rated ‘A’ for ‘exceptional,’ Demotech Inc. said they must take significant steps going forward.     From left: Lee Cathey, Mayor Al Cathey and Charles Smith survey damage in the coastal township of Mexico Beach, which lay devastated after Hurricane Michael made landfall there. [DOUGLAS R. CLIFFORD | Times (2018)] Updated Mar. 17 For the second year in a row, ratings agency Demotech Inc. said several Florida insurers would need to improve their finances to maintain stability going forward. Demotech is a private company that grades most Florida insurers on their financial health. It finished its most recent ratings period this month, affirming all but one “A” grade, which is considered “exceptional.” The company it did not reaffirm is a commercial insurer that asked for its rating to be withdrawn earlier this year.

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