Ok – Most of the homes I am looking at are tile, so just not an issue. There is also the pool enclosure limitation and the fact they wont schedule stuff. When discussing the roof or screen pool enclosure limitations, insureds often seem more concerned with the ability to pay claims. I would buy coverage for my home with them or Lexington (higher value, need for schedules)way before one of the Demotech companies.
For someone calling themself Mr. Solvent, I still don’t get why the solvent companies aren’t higher on your list. (I know, I know AIG…solvent? Actually, we all know Lex was fine)
In a worst case scenario we have FIGA. I don’t like any of the options we have as agents but at lease if my Demotech carrier goes insolvent I can point to FIGA. If FIGA’s insolvent too I probably don’t have much of an E&O exposure…and we’ve got bigger problems than my E&O claim!
You people have absolutely no idea how Demotech ratings work! Incredible! Do any of you even know how expensive it is to get an A rating from Demotech?!
Is anyone concerned with the reality that of the top 25 property carriers(based on exposure in Florida) only two, ASI and Universal Insurance Company of North America, have an A rating with AM Best. Now that they are finished with Tower Hill, I wonder if they will be setting their sites on these carriers next…
All the while the following carriers are A rated with Demotech:
FSR as of August 25, 2009
11072 ACA Home Insurance Corp A”
12601 American Capital Assurance Corp A”
12968 American Coastal Insurance Co A
12841 American Integrity Insurance Co of FL A
12894 American Keystone Insurance Co S
10872 American Strategic Insurance Co A”
12359 American Traditions Insurance Co A
10203 Argus Fire & Casualty Insurance Co A
13038 Ark Royal Insurance Co A
12196 ASI Assurance Corp A”
13142 ASI Preferred Insurance Corp A”
12813 Auto Club Insurance Co of FL A
13139 Avatar Prop & Casualty Insurance Co A
33162 Bankers Insurance Co A
32930 Capacity Insurance Co A
10908 Capitol Preferred Insurance Co A
10835 Castle Key Indemnity Corp A’
30511 Castle Key Insurance Co A’
10953 Cypress Prop & Casualty Insurance Co A’
11996 Encompass Floridian Indemnity Co A’
11993 Encompass Floridian Insurance Co A’
27980 Federated National Insurance Co A
10186 Fidelity Fire & Casualty Co A
13990 First Community Insurance Co A
10149 First Home Insurance Co A
10897 First Protective Insurance Co A
10688 Florida Family Insurance Co A’
10132 Florida Peninsula Insurance Co A
12237 Gulfstream Prop & Casualty Insurance Co A
12306 Hillcrest Insurance Co A
12944 Homeowners Choice Property & Casualty Insurance Co A
11156 Homesite Insurance Co of Florida A’
12438 Homewise Insurance Co A
12582 Homewise Preferred Insurance Co A
13141 Magnolia Insurance Co A
12957 Modern USA Insurance Co A
10948 Nationwide Insurance Co of Florida A
12568 Northern Capital Insurance Co A
13023 Northern Capital Select Insurance Co A
12954 Olympus Insurance Co A
38644 Omega Insurance Company A
25755 Peachtree Casualty Insurance Co A
13125 Peoples Trust Insurance Co A
12538 Royal Palm Insurance Co A
12563 Safe Harbor Insurance Co A’
17248 Safeway Property Insurance Co A
13619 Sawgrass Mutual Insurance Co A
10117 Security First Insurance Co A
10136 Southern Fidelity Insurance Co Inc A
12247 Southern Oak Insurance Co A
10190 Southern‐Owners Insurance Co A”
11844 St Johns Insurance Co Inc A
13621 Star & Shield Insurance Exchange A
10860 Sunshine State Insurance Co A
29050 Tower Hill Preferred Insurance Co A
11027 Tower Hill Prime Insurance Company A
12011 Tower Hill Select Insurance Co A
10969 United Prop & Casualty Insurance Co A
11986 Universal Insurance Co of North America A’
10861 Universal Property & Casualty Insurance Co A
Universal North America is rated “NR” by A.M. Best when I checked. I believe their parent company is “A” rated by Best. Regardless your point is accurate.
You say that because you don’t have to write any non-admitted business here in FL! If you did, you would see how a pain-in-the-behind non-admitted business really is…. All of those damn forms, taxes, fees…. just kills you.
Sometimes I will have a good/competitive quote from a non-admitted carrier only to find out that AFTER I add-on all of the 7.5% of taxes and fees – which is RIDICULOUS – I am no longer competitive.
And also don’t forget that on a NON-ADMITTED market, the client needs to FINANCE the premium adding on an additional cost to the insured.
So before you say “I would prefer doing business with the Non-Admitted Market”, I think you should really taste it first before speaking out because as for me, if I had a choice I would go ADMITTED 100% of the time!
Royal Palm is managed by the Tower Hill group. They are not rated by AM Best but proudly maintain an A rating with Demotech. You be the judge. The who industry is a crap shot right now.
Great article,
It is very important for everyone to have health insurance.If you don’t have insurance and you have to go to hospital, you’ll have to pay over $20,000.That happened to a friend of mine.I know a site that offer the cheapest possible price for health insurance, free quotes and a lot of benefits.
When an insurance company says it is partnered with another company does that mean the parent company will pay claims if the other can not/
Ark Royal is partnered or managed by ASI
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Ok – Most of the homes I am looking at are tile, so just not an issue. There is also the pool enclosure limitation and the fact they wont schedule stuff. When discussing the roof or screen pool enclosure limitations, insureds often seem more concerned with the ability to pay claims. I would buy coverage for my home with them or Lexington (higher value, need for schedules)way before one of the Demotech companies.
For someone calling themself Mr. Solvent, I still don’t get why the solvent companies aren’t higher on your list. (I know, I know AIG…solvent? Actually, we all know Lex was fine)
In a worst case scenario we have FIGA. I don’t like any of the options we have as agents but at lease if my Demotech carrier goes insolvent I can point to FIGA. If FIGA’s insolvent too I probably don’t have much of an E&O exposure…and we’ve got bigger problems than my E&O claim!
You people have absolutely no idea how Demotech ratings work! Incredible! Do any of you even know how expensive it is to get an A rating from Demotech?!
Is anyone concerned with the reality that of the top 25 property carriers(based on exposure in Florida) only two, ASI and Universal Insurance Company of North America, have an A rating with AM Best. Now that they are finished with Tower Hill, I wonder if they will be setting their sites on these carriers next…
All the while the following carriers are A rated with Demotech:
FSR as of August 25, 2009
11072 ACA Home Insurance Corp A”
12601 American Capital Assurance Corp A”
12968 American Coastal Insurance Co A
12841 American Integrity Insurance Co of FL A
12894 American Keystone Insurance Co S
10872 American Strategic Insurance Co A”
12359 American Traditions Insurance Co A
10203 Argus Fire & Casualty Insurance Co A
13038 Ark Royal Insurance Co A
12196 ASI Assurance Corp A”
13142 ASI Preferred Insurance Corp A”
12813 Auto Club Insurance Co of FL A
13139 Avatar Prop & Casualty Insurance Co A
33162 Bankers Insurance Co A
32930 Capacity Insurance Co A
10908 Capitol Preferred Insurance Co A
10835 Castle Key Indemnity Corp A’
30511 Castle Key Insurance Co A’
10953 Cypress Prop & Casualty Insurance Co A’
11996 Encompass Floridian Indemnity Co A’
11993 Encompass Floridian Insurance Co A’
27980 Federated National Insurance Co A
10186 Fidelity Fire & Casualty Co A
13990 First Community Insurance Co A
10149 First Home Insurance Co A
10897 First Protective Insurance Co A
10688 Florida Family Insurance Co A’
10132 Florida Peninsula Insurance Co A
12237 Gulfstream Prop & Casualty Insurance Co A
12306 Hillcrest Insurance Co A
12944 Homeowners Choice Property & Casualty Insurance Co A
11156 Homesite Insurance Co of Florida A’
12438 Homewise Insurance Co A
12582 Homewise Preferred Insurance Co A
13141 Magnolia Insurance Co A
12957 Modern USA Insurance Co A
10948 Nationwide Insurance Co of Florida A
12568 Northern Capital Insurance Co A
13023 Northern Capital Select Insurance Co A
12954 Olympus Insurance Co A
38644 Omega Insurance Company A
25755 Peachtree Casualty Insurance Co A
13125 Peoples Trust Insurance Co A
12538 Royal Palm Insurance Co A
12563 Safe Harbor Insurance Co A’
17248 Safeway Property Insurance Co A
13619 Sawgrass Mutual Insurance Co A
10117 Security First Insurance Co A
10136 Southern Fidelity Insurance Co Inc A
12247 Southern Oak Insurance Co A
10190 Southern‐Owners Insurance Co A”
11844 St Johns Insurance Co Inc A
13621 Star & Shield Insurance Exchange A
10860 Sunshine State Insurance Co A
29050 Tower Hill Preferred Insurance Co A
11027 Tower Hill Prime Insurance Company A
12011 Tower Hill Select Insurance Co A
10969 United Prop & Casualty Insurance Co A
11986 Universal Insurance Co of North America A’
10861 Universal Property & Casualty Insurance Co A
Somethings out of balance here….
Universal North America is rated “NR” by A.M. Best when I checked. I believe their parent company is “A” rated by Best. Regardless your point is accurate.
You say that because you don’t have to write any non-admitted business here in FL! If you did, you would see how a pain-in-the-behind non-admitted business really is…. All of those damn forms, taxes, fees…. just kills you.
Sometimes I will have a good/competitive quote from a non-admitted carrier only to find out that AFTER I add-on all of the 7.5% of taxes and fees – which is RIDICULOUS – I am no longer competitive.
And also don’t forget that on a NON-ADMITTED market, the client needs to FINANCE the premium adding on an additional cost to the insured.
So before you say “I would prefer doing business with the Non-Admitted Market”, I think you should really taste it first before speaking out because as for me, if I had a choice I would go ADMITTED 100% of the time!
Royal Palm is managed by the Tower Hill group. They are not rated by AM Best but proudly maintain an A rating with Demotech. You be the judge. The who industry is a crap shot right now.
You do understand that Demotech is a purchased rating for an insurance company because they are either a new or a takeout company.
Great article,
It is very important for everyone to have health insurance.If you don’t have insurance and you have to go to hospital, you’ll have to pay over $20,000.That happened to a friend of mine.I know a site that offer the cheapest possible price for health insurance, free quotes and a lot of benefits.
http://www.NationalHealthInsurance.info
When an insurance company says it is partnered with another company does that mean the parent company will pay claims if the other can not/
Ark Royal is partnered or managed by ASI
Would ASI be responsible foe Ark Royal