Homeowners' insurance
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Twia’s actuarial and underwriting committee made the recommendation last week. -
The downgrades reflect Gallatin Point’s recent acquisition of a majority stake in TRUE.
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A hearing with the Florida Office of Insurance is scheduled for February 21.
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CSAA writes over 70% of its business in the Golden State.
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The changes will be up for discussion at a March 26 public hearing.
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The company is aiming for a 2024 Florida rollout, offering HO-3 and DP-3 policies.
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The reciprocal will write homeowners’ insurance primarily in Florida.
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The home insurance start-up claims the fundraise was made at a $1bn-plus valuation.
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The carrier expects to re-emerge after operating as going-concern Anchor.
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The parties also signed a release of claims arising from the Vesttoo fraud.
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Over $1bn in claims had been paid as of November 30, 2023.
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Rates are generally cheaper than the admitted market.
