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Seven non-life insurance companies became insolvent in the second quarter of 2013–two more than the total number of liquidations in 2012, shows a report by the National Conference of Insurance Guaranty Funds (NCIGF).  

Twenty-five P&C funds were liquidated from 2011 to the second quarter of 2013. Florida guaranty funds were especially hard-hit because the state’s hurricane-prone location caused regional companies to fold (Hurricane Irene caused $800 million of damage in the state), with six out of 11 occurrences of insolvency affecting Florida insurers in 2011.

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