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2011 Hurricane Season Coming To An End
11/28/2011
Herald Tribune- Hurricane season ends
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Approved statement from the Florida Property & Casualty Association regarding the governor's veto of the insurance bill #2044
6/3/2010
We applaud the legislature’s hard work in passing SB2044 that would have improved the availability and affordability of property insurance in the state by reducing fraud and claims abuse by a few to the detriment of everyone else. Unfortunately, it was erroneously portrayed by critics as a bill that would have raised rates without regulatory oversight. Nothing could be further from the truth. The veto of this bill will ultimately saddle all insurers with continued escalating losses resulting in less availability and higher rates.
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Florida Peninsula Finalizes Acquisition of Edison Insurance
1/27/2010
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.
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Florida Peninsula Completes Edison Insurance Acquisition
1/26/2010
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.
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Florida Peninsula Buys Edison
1/26/2010
Florida Peninsula Holdings, LLC, the parent company of Florida Peninsula Insurance Co., has completed its acquisition of Edition Insurance Group, including its two subsidiaries, Edison Insurance Co. and Edison Insurance Underwriters. Florida Peninsula is rated A Exceptional by Demotech, and has more than 120,000 homeowners, renters and condominium unit policyholders in Florida. It received its Certificate of Authority from the Florida Office of Insurance Regulation in 2005.
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Best's Review
10/20/2009
No major storms have socked Florida for a few years now, but the residential property insurance market does not appear to be benefitting from that lack of catastrophes. State Farm Florida is still negotiating with regulators on the best way for it to leave the property market altogether. Nationwide Insurance Company of Florida recently said it needs to drop another 60,000 policies to reduce exposure. Over the past six months, two domestic insurers -- American Keystone and First Commercial Insurance Co. -- have been ordered into liquidation and another, Hollywood, Fla.-based Coral Insurance Co., is being run by the state as part of a process to start liquidation.
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