What Effect Do Falling Home Prices Have on The Replacement Cost of A Home

By Clint Strauch,CIC

Going On Vacation Safety Tips

Going On Vacation Safety Tips

SUN-SENTINEL: Climate change begins to affect South Florida

Researchers debate the effects of global warming on South Florida

Property Casualty 360

Florida ‘On the Right Track’ to Property Market

Governor orders Citizens to downsize

Citizens Board of Governors ordered to decrease size and exposure

Florida Insurance Commisioner Elected Head of NAIC

Kevin McCarty elected President of National Association of Insurance Commissioners

THE CURRENT

Bill aimed at reducing Citizens would bring in surplus lines insurers

CSC WORLD - In Practice: Insurance

Unlike most traditional insurance carriers, Florida Peninsula Insurance is a relatively young company writing business for a single, somewhat risky market — Florida homeowners. As the company formed relationships with independent agents across the state and began growing the business, it became apparent that the Boca Raton-based provider needed to invest in new technology to support its agency portal.

INSURANCENEWSNET.COM - State Farm Florida to Tell Some Policholders They Won't be Renewed

State Farm Florida will begin sending out notices Feb. 1 to inform some of its more than 810,000 residential property policyholders that they will not be renewed.

THE MIAMI HERALD - State Farm to begin shedding thousands of homeowner policies

Starting Monday, homeowners who hold State Farm Insurance of Florida policies will begin receiving letters from the insurer saying their policies won't be renewed. But agents interviewed said relatively few of those policies will likely be in South Florida because State Farm no longer insures many homes here. The company will be dropping 125,000 policies throughout the state as part of a settlement reached with the Office of Insurance Regulation to keep State Farm from abandoning Florida entirely. The company was also granted a 14.8-percent rate increase in the deal. To maintain solvency, the company had argued it needed to dramatically reduce its hurricane exposure in this state.

INSURANCE JOURNAL - Florida Peninsula Finalizes Acquisition of Edison Insurance

Florida Peninsula Holdings, LLC, the parent company of Florida Peninsula Insurance Co., reports it has completed its acquisition of Edison Insurance Group, including its two subsidiaries: Edison Insurance Co. and Edison Insurance Underwriters. The previously-announced acquisition includes more than 25,000 Edison homeowners policyholders that will now become part of Florida Peninsula Insurance Co.

INSURANCENEWSNET.COM - Florida Peninsula Completes Edison Insurance Acquision

Florida Peninsula Insurance Co. has added about 25,000 policies with the completion of its acquisition of Edison Insurance Group. The insurer's parent company, Florida Peninsula Holdings LLC, said in a statement that the deal includes Edison Insurance Co. and Edison Insurance Underwriters. Florida Peninsula of Boca Raton, Fla., which opened its doors in April 2005, will now have about 140,000 policies.

SILOBREAKER - Florida Peninsula Completes Edison Insurance Acquisition

Florida Peninsula Insurance Co. has added about 25,000 policies with the completion of its acquisition of Edison Insurance Group. The insurer's parent company, Florida Peninsula Holdings LLC, said in a statement that the deal includes Edison Insurance Co. and Edison Insurance Underwriters. Florida Peninsula of Boca Raton, Fla., which opened its doors in April 2005, will now have about 140,000 policies.

PR-USA.NET - Florida Peninsula Insurance Company enters into acquisition agreement with Edison Insurance Company

Florida Peninsula Holdings, LLC, the parent company of Florida Peninsula Insurance Company, announced today that it has entered into an agreement with and has received Florida Office of Insurance Regulation consent to acquire Edison Insurance Group, including two of its subsidiaries: Edison Insurance Company and Edison Insurance Underwriters.

INSURANCE JOURNAL - Florida Agents, Consumer Group Sound Alarm Over 'Perilous' Property Market

Insurance agents, a former insurance commissioner and a consumer advocate have sounded an alarm about the property insurance marketplace in Florida, a market that has seen four insurers get into financial trouble in the past year.

DAILY BUSINESS REVIEW - Florida Peninsula Holdings acquires Edison Insurance

Florida Peninsula Holdings, the Boca Raton parent of Florida Peninsula Insurance, said Monday it is acquiring St. Petersburg-based Edison Insurance Group. The deal has been approved by the Florida Office of Insurance Regulation, according to a Florida Peninsula news release. Financial terms were not disclosed. The deal will add more than 25,000 Edison policyholders to Florida Peninsula Insurance’s portfolio. Florida Peninsula has more than 120,000 homeowners, renters and condominium unit policyholders throughout the state.

THE MIAMI HERALD - Insurance firm acquiring two others

Florida Peninsula Holdings has won approval from state regulators to acquire Edison Insurance Group, which operates two property insurers with more than 25,000 policies. The policies from Edison Insurance Company and Edison Insurance Underwriters willbecome part of Boca Raton-based Florida Peninsula and remain in force. Edison policyholders will maintain their current independent insurance agents and policy numbers.

TAMPA BAY BUSINESS JOURNAL - Florida Peninsula buys Edison Insurance

Florida Peninsula Holdings LLC has an agreement to acquire Edison Insurance Group and two of its subsidiaries — Edison Insurance Co. and Edison Insurance Underwriters. The purchase price was not included in a release announcing the deal. The Florida Office of Insurance Regulation has approved the acquisition, the release said. The acquisition includes more than 25,000 Edison policyholders that now will become part of Florida Peninsula Insurance Co. No changes will be made to their policies and Edison’s customers will continue to work with their existing independent insurance agents, the release said.

SOUTH FLORIDA BUSINESS JOURNAL - Regulators OK Florida Peninsula purchase

State insurance regulators have approved Boca Raton-based Florida Peninsula Insurance Co.’s plan to buy St. Petersburg-based Edison Insurance Group and pick up its 25,000 policyholders. The purchase includes subsidiaries Edison Insurance Co. and Edison Insurance Underwriters, according to a statement about the purchase agreement. The purchase price was not disclosed.

P & C NATIONAL UNDERWRITER - Fla. Peninsula Insurance To Acquire Edison Insurance Group

Florida Peninsula Insurance Co. said its subsidiary Florida Peninsula Holdings, LLC has entered into an agreement to acquire Edison Insurance Group. Financial terms of the deal were not released. Florida Peninsula, based in Boca Raton, Fla., will also acquire Edison’s two subsidiaries, Edison Insurance Company and Edison Insurance Underwriters. Both companies are primarily writers of homeowners insurance in Florida. Edison is headquartered in St. Petersburg, Fla.

THE PALM BEACH POST - Boca Raton-based Florida Peninsula to buy St. Petersburg Insurer

Florida Peninsula Holdings said today that it will buy a St. Petersburg insurer with 25,000 policyholders. Boca Raton-based Florida Peninsula, which owns Florida Peninsula Insurance, said it received permission from the Florida Office of Insurance Regulation to acquire Edison Insurance Group, parent of Edison Insurance Co. and Edison Insurance Underwriters.

SUN-SENTINEL - Insurers in Boca Raton and St.Petersburg to merge

Florida Peninsula Holdings, the parent company of Florida Peninsula Insurance Co. in Boca Raton, announced this week that it plans to buy Edison Insurance Group and its subsidiaries. Florida Peninsula officials said the Office of Insurance Regulation approved the acquisition last week and when the sale is complete, their company will grow from about 120,000 residential insurance policies to 145,000.

ST. PETERSBURG TIMES - St. Petersburg homeowners insurer bought by Florida Peninsula

St. Petersburg homeowners insurer Edison Insurance Co. is being bought by the larger Florida Peninsula Insurance Co., the companies said Monday. Terms were not disclosed for the deal, which has been approved by the Florida Office of Insurance Regulation. Edison, which was formed in mid 2005, has about 25,000 policyholders who will become part of Boca Raton-based Florida Peninsula. That will give Florida Peninsula more than 120,000 homeowners, renters and condominium unit policyholders.

SMART BUSINESS - Following Policy

How Roger L. Desjadon succeeds by providing his employees at Florida Peninsula with a sense of purpose.

SUN-SENTINEL - Debate starts on property insurance rate deregulation

Florida lawmakers on Tuesday unveiled legislation that would strip state regulators' ability to reject most property insurance rate hikes. A version of the bill that would have allowed large insurers to essentially charge what they want was passed by the Florida House and Senate this year and vetoed by Gov. Charlie Crist. Rep. Bill Proctor , R-St. Augustine, filed a new version Tuesday for the annual legislative session that starts in March. It would apply to all private property insurers.

FLORIDA UNDERWRITER - What Agents Want

Insurance carriers and agents alike are feeling the pinch of the economic downturn. Every organization is looking or ways to do more with less, but we cannot lose sight of customer retention and the search for new business. Many agencies spend thousands of dollars on automation, but the agency system is just one piece of the puzzle.