
Subsequent to the 2004-2005 hurricane seasons, several insurance companies in Florida went into receivership (bankrupt). Currently, homeowner markets are drying up and the few remaining companies increased rates. Yes, there are 31 new companies that enter Florida in the year 2006 but these companies have increased their premium over the last two years.
Most of these companies are not rated by AM Best Rating Company or Demotech because of their short time business. Technically, it takes about five years in business to obtain a rating. The minimum initial capital to start an insurance company in Florida is about 5 million dollars. One of the new companies, American Keystone Insurance Co., which…











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