St. Johns Insurance Company has become the first Florida carrierto take advantage of a new state loan program aimed at bolsteringthe state's hard-hit homeowners insurance market.

The Orlando-based business received approval for a $20 millionloan, the first such transaction stemming from passage of SenateBill 1980, passed by the Florida Legislature last May.

According to St. Johns President James McCahill, “The programcould not have come at a better time for Florida insurers andhomeowners.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.