St. Johns Insurance Company has become the first Florida carrier to take advantage of a new state loan program aimed at bolstering the state's hard-hit homeowners insurance market.
The Orlando-based business received approval for a $20 million loan, the first such transaction stemming from passage of Senate Bill 1980, passed by the Florida Legislature last May.
According to St. Johns President James McCahill, “The program could not have come at a better time for Florida insurers and homeowners.
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