NU Online News Service, Sept. 4, 11:50 a.m. EDT
The Department of Financial Services said it has saved more than 100 jobs and protected 15,000 of the state's policyholders who were insured by two insolvent insures by transitioning those risks to another insurer.
The state's Chief Financial Officer Alex Sink said yesterday that the state has worked out a plan where the policies and employees of First Commercial Insurance Company (FCIC) and First Commercial Transportation and Property Insurance Company (FCTPIC) will transition to Miami-based Ascendant Commercial Insurance, Inc.
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