{"id":54596,"date":"2022-08-25T15:42:39","date_gmt":"2022-08-25T19:42:39","guid":{"rendered":"https:\/\/thelehighacresgazette.com\/news\/?p=54596"},"modified":"2022-08-25T15:42:43","modified_gmt":"2022-08-25T19:42:43","slug":"another-insurance-company-bites-the-dust-and-is-out-of-florida","status":"publish","type":"post","link":"https:\/\/thelehighacresgazette.com\/news\/2022\/08\/another-insurance-company-bites-the-dust-and-is-out-of-florida\/","title":{"rendered":"Another insurance company bites the dust and is out of Florida"},"content":{"rendered":"\n<p>On Thursday, yet another insurance company announced it would be leaving the state of Florida.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"536\" src=\"https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2022\/08\/5afdc93c186f185fed074882_upc-insurance-review-2018-min-1024x536.png\" alt=\"\" class=\"wp-image-54597\" srcset=\"https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2022\/08\/5afdc93c186f185fed074882_upc-insurance-review-2018-min-1024x536.png 1024w, https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2022\/08\/5afdc93c186f185fed074882_upc-insurance-review-2018-min-300x157.png 300w, https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2022\/08\/5afdc93c186f185fed074882_upc-insurance-review-2018-min-768x402.png 768w, https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2022\/08\/5afdc93c186f185fed074882_upc-insurance-review-2018-min.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The parent company, United Insurance Holdings Corp., announced that United Property &amp; Casualty Insurance Company (United P&amp;C) has filed plans to withdraw from Florida, Texas, Louisiana and New York.<\/p>\n\n\n\n<p>\u201cDue to significant uncertainty around the future availability of reinsurance for our personal lines business, I believe placing United P&amp;C into an orderly run-off is prudent and necessary to protect the Company and its policyholders. The Company is actively pursuing opportunities to leverage our people, technology, and other capabilities. Our commercial business continues to perform well and provides the Company a stable platform to build new engines of growth and profitability,\u201d said Dan Peed, Chairman &amp; CEO.<\/p>\n\n\n\n<p>This comes about a month after another insurance company,&nbsp;<a href=\"https:\/\/www.wesh.com\/article\/florida-insurance-market-collapse\/40723266\" target=\"_blank\" rel=\"noreferrer noopener\">Bankers Insurance Group, announced it would be pulling out of Florida.<\/a><\/p>\n\n\n\n<p>\u201cThe Florida private insurance market is collapsing,\u201d said Mark Friedlander.<\/p>\n\n\n\n<p>Friedlander is the Florida spokesperson for the Insurance Information Institute. He said Bankers Insurance was the 13thhome insurer in Florida to make such a change this year. The institute\u2019s list includes home insurers that have either announced an exit from the Florida market, placed a moratorium on writing new business or gone insolvent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Thursday, yet another insurance company announced it would be leaving the state of Florida. The parent company, United Insurance Holdings Corp., announced that United Property &amp; Casualty Insurance Company&hellip; <\/p>\n","protected":false},"author":8,"featured_media":54597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[128],"tags":[1577],"_links":{"self":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/54596"}],"collection":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/comments?post=54596"}],"version-history":[{"count":1,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/54596\/revisions"}],"predecessor-version":[{"id":54598,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/54596\/revisions\/54598"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media\/54597"}],"wp:attachment":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media?parent=54596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/categories?post=54596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/tags?post=54596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}