Ascendant on the Rise

Ascendant Commercial Insurance Inc., of Miami, is assuming some 15,000 policyholders from First Commercial Insurance Co. (FCIC) and First Commercial Transportation and Property Insurance Co. (FCTPIC). The insurers were ordered into liquidation by Leon County Circuit Court in August. FCIC wrote workers' compensation, commercial auto, general liability, and commercial multi-peril insurance policies in Florida and Georgia. FCTPIC wrote commercial auto insurance coverage in Florida. Together, the companies at one time had approximately 18,000 in-force policies. Ascendant will not initially be offering policies in commercial multi-peril, monoline commercial auto, warranty, errors and omissions, and medical malpractice. Ascendant received its state license in September.