Another Sunshine State insurer falls: Southern Fidelity enters receivership

Southern Fidelity, which has 78,000 policies in Florida, had failed to secure reinsurance for the 2022 hurricane season.

Aerial View of a Tampa Bay, Florida. Credit: Fitz/Adobe Stock

Southern Fidelity Insurance Company has entered into receivership and is being liquidated, according to the Florida Office of Insurance Regulations (FLOIR).

The state’s insurance office made the move on the basis that the insurer was impaired, insolvent or likely to become insolvent and that further transactions would be potentially hazardous to policyholders, creditors, stockholders or the public.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].

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