Florida-based Poe Financial Group announced its request for a “non-rating” from A.M. Best on its member companies, Southern Family Insurance Company and Atlantic Preferred Insurance Company.
“Florida’s Department of Insurance has reviewed our financial reports and is completely satisfied that Poe is viable and financially secure,” stated James Wurdeman, president and CEO of Poe Financial Group. “With over 9 years of hard work by its dedicated associates, Poe continues to demonstrate its ability to pay all of its claims.”
Even in light of Florida’s unprecedented four-storm season, Poe Financial Group has reportedly remained resilient. In fact, of more than 42,000 reported claims, better than 96% are paid and the company ended its fiscal year with a record $500 million in written premium.
Additional capital has already been placed in the organization so that 2005 will result in yet another year of growth and affirm the company’s commitment to the Florida property marketplace.
“Additionally, we look forward to further expanding the Florida property marketplace,” commented Wurdeman.
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