X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Florida Insurance Commissioner Kevin McCarty sent CFO Alex Sink a letter on April 7 stating that Northern Capital Insurance Co. is insolvent. The company has less than $4 million in surplus. Northern Capital wrote homeowners’ insurance with a large concentration of the risk in Dade, Broward, and Palm Beach counties. Receivership and liquidation are expected soon. Once a company is ordered into liquidation, policyholders have 30 days to find new coverage. If they cannot find coverage in the voluntary market, there is always Citizens Property Insurance Corp. — alongside a million other homeowners.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

America's Claims Executive Virtual Leadership Forum & Expo 2021Event

ACE Virtual Leadership Forum & Expo is the annual conference for Senior Claims Executives in Insurance organizations.

Get More Information
 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.