Balboa Insurance and Meritplan Insurance, both owned by BalboaInsurance Group of Irvine, Calif., won't be renewing their books ofbusiness in Florida over the next year, according to companyreleases.
|The two companies have 42,000 policies throughout the state. InFlorida, Balboa has been writing renters' policies and home firecoverage. Meritplan offers homeowners' and condo unit policies.
|Universal Insurance Company of North America will offer newpolicies to about 85 percent of the Balboa and Meritplanpolicyholders.
|A company spokesman said the two companies will renew policiesfor one more year for the remaining 15 percent of currentpolicyholders.
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