Gallagher Re’s comprehensive analysis focuses on key highlights regarding AM Best rating changes in the US and the financial thresholds associated with the changes.
Tag: insurer downgrades
Demotech Ratings Agency Downgrade of Florida Insurers Delayed
An expected potential downgrade of more than a dozen Florida insurers by the ratings agency Demotech, which was originally scheduled to be released on Tuesday, is delayed, according to the company. “Due to various circumstances, Demotech will not take any rating action, including affirmation, downgrade, or withdrawal until further notice,” stated Joe Petrelli, President of… Continue reading Demotech Ratings Agency Downgrade of Florida Insurers Delayed
Florida Insurers Face Ratings Change that Could Raise Costs
Demotech ratings agency has plans to downgrade more than two dozen Florida-based property insurance companies in a move that could cost more money for homeowners with loans. The ratings firm Demotech plans to downgrade the 27 insurers (not 17 as originally reported) from an “A” rating to ratings of either “S” for substantial or “M”… Continue reading Florida Insurers Face Ratings Change that Could Raise Costs
Demotech Notifies 17 Property Insurers of Rating Downgrades
Florida’s insurance rating agency Demotech has informed approximately 17 property insurance companies that their ratings will be downgraded upon review of 2022 hurricane season reinsurance packets, according to a letter from the Florida Office of Insurance Regulation (OIR). OIR Commissioner David Altmaier sent a letter to Demotech President Joe Petrelli on Thursday sternly requesting that… Continue reading Demotech Notifies 17 Property Insurers of Rating Downgrades