Florida Insurers use Demotech as their main rating organization. Water damage claims in addition to Assignment of Benefits (AOB), continue to cause financial problems in the insurance industry. Therefore, a number of smaller Florida insurers are facing potential rating downgrades.
Up to 57 Florida Insurers Being Reviewed
Fla. insurers to get lower safety grades: How many? Demotech mum – Palm Beach Post (blog) Ratings firm Demotech says guidance on 57 Florida-based property insurers is under review in the wake of 2016 storms and continuing water-claims problems, but officials declined to say Friday how many companies are likely to get lower financial safety …
Demotech Action Could Affect Up to 250,000 Policyholders
Florida property insurers face ratings downgrades – Sun Sentinel Looming ratings downgrades for six to eight Florida-based property insurers could affect about 250,000 policyholders statewide, forcing some to find new insurers, according to sources familiar with an advisory issued this week by ratings agency Demotech.
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