All admitted, private insurance companies have to satisfy the Florida Office of Insurance regulation requirements for initial capitalization, surplus it is required to maintain, and financial stability. Its a long application process and a first step an insurance company has to take before it approaches the rating services about financial ratings.
My suggestion, is to find the best private insurance you can find and just send it in to your mortgage company. They do very little checking of the financial ratings if at all.
Also, you are better off in a small start up company like Northern Capital than you will ever be with Citizens. The lines there will be very long after the next hurricane.
Also, check out the Home Insurance Buyers Guide located at:
Citizens is dropping me. I hated their claims’ handling of my problems after Wilma and am glad I am being picked up by another co. But, do they have their OWN rating yet with Best???? I am impressed by their reinsurance companies’ ratings, but how would that affect me. Thank you.
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I do not see the company listing their rating? And I do not see them listed in Best\’s. I wonder if a mortgage company would except them.
My home mtg company is Wells Fargo Home Mortgage. I wonder if this new company would be acceptable to them
I am trying to find out how much money this company has in reserves and how much their reinsurers supply.
All admitted, private insurance companies have to satisfy the Florida Office of Insurance regulation requirements for initial capitalization, surplus it is required to maintain, and financial stability. Its a long application process and a first step an insurance company has to take before it approaches the rating services about financial ratings.
My suggestion, is to find the best private insurance you can find and just send it in to your mortgage company. They do very little checking of the financial ratings if at all.
Also, you are better off in a small start up company like Northern Capital than you will ever be with Citizens. The lines there will be very long after the next hurricane.
Also, check out the Home Insurance Buyers Guide located at:
http://www.homeinsurancebuyers.org
The Buyers Guide will be available in early August and will feature companies like Northern Capital writing new business in your area.
Good luck!
Citizens is dropping me. I hated their claims’ handling of my problems after Wilma and am glad I am being picked up by another co. But, do they have their OWN rating yet with Best???? I am impressed by their reinsurance companies’ ratings, but how would that affect me. Thank you.