Allstate Floridian Insurance Co. has been renamed Castle Key Insurance Co. to differentiate it from its national parent. The name change also applies to Allstate Floridian Indemnity Co. Allstate officials said they changed the name to formally acknowledge that Castle Key is not funded by its parent. Castle Key has about 225,000 homeowner policies in Florida, down from 565,882 at the end of 2004. A.M. Best has downgraded the financial strength rating for Castle Key from good to fair with a negative outlook.
From the August 2009 issue of Florida Underwriter • Subscribe!
