View Larger Twenty-six of 148 property insurers considered the weakest in the nation by Weiss Ratings LLC are in Florida, with five headquartered in Central Florida.
The Central Florida firms on that newly released list include: Maitland-based First Home Insurance Co.; Orlando-based Olympus Insurance; Orlando-based St. Johns Insurance Co.; Winter Haven-based State Farm of Florida Insurance Co.; and Lake Mary-based First Protective Insurance, now called Frontline Homeowners Insurance.
Four of the insurers got D ratings, while First Protective got a D-, which means Weiss Ratings identified a weak spot in their financial stability. Fiscally weak insurers potentially could find themselves unable to pay claims in the event of an incident such as a major hurricane. That, in turn, would leave the state’s hurricane catastrophe fund, and thus its taxpayers, on the hook for those claims.
Click here to read the full article …
