Heritage Insurance Company to "Transition" 35,000 policies out of another take out company.

Troubled Florida based Insurance company, Sunshine State Insurance Company, a fledging Florida based Insurance Company that has struck deals with Citizen's Insurance Company to "take out" thousands of policies, is in serious trouble.

What kind of trouble?  Well, there is more here...

https://www.weissratings.com/news/articles/140319-is-it-safe-sunshine-state-insurance-company/


In February, the Florida FLOIR (Florida's Insurance regulatory Agency) took This action, effectively banging the doors shut on Sunshine State.


Insurance companies are organizations that rely on strict accounting of funds.  Things like missing or inadequate financial statements, suspended Ceo's, and so forth are a BIG DEAL.

So what does this mean to the 35,000 or so Florida Sunshine State policyholders?  Well in rides the Calvary in the form of another Florida Based Insurance Company, Heritage Insurance Company.  Below is a blurb that briefly explains what is going on...

CLEARWATER, Fla., June 16, 2014 /PRNewswire/ -- Heritage Insurance Holdings, Inc. HRTG +2.26%announced that on June 13, 2014, it received a court order to  transition approximately 35,000 policies of Sunshine State Property & Casualty Insurance Company ("SSIC") which is in liquidation.


If you are insured now with Sunshine State, very soon you will be receiving paperwork from Heritage Insurance Company 'transitioning" your policy over to them.

Welcome to Florida, home of the most convulted homeowner insurance market in the Country.


about the author:  Greg Bauknight is president of Bauknight Agencies, with office in both pasco (Bauknight Insurance (727) 863-5641 and Hernando (352)-686-06. For more information you can call their office at either location or visit their website at www.bauknightinsurance.com