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STRAY SUNDAY — THURSDAY THROUGH SUNDAY. SANIKA: HOMEOWNERS BRACING TO FIND OUT WHEN THEIR INSURANCE COMPANY MAY STOP ENSURING HOMES. BANKERS INSURANCE GROUP IS BASED OUT OF ST. PETERSBURG. THE COMPANY IS PULLING OUT OF THE HOME INSURANCE MARKET BECAUSE THEY SAY STATE LAWMAKERS DIDN’T DO ENOUGH DURING THE SPECIAL SESSION TO COMBAT FRAUD AND LITIGATION. POLICYHOLDERS WILL BE NOTIFIED OF THE CANCELLATION WITH THE REQUIRED FOUR MONTH WINDOW. THE COMPANY RELEASED A STATEMENT SAYING THIS DECISION WAS DIFFICULT, HOWEVER, NECESSARY TO ALLO
Another home insurance company leaving Florida
Updated: 1:17 PM EDT Jul 25, 2022
Nearly two months into hurricane season and homeowners across the state are bracing to find out when their insurance company will stop insuring their homes.Bankers Insurance Group is based out of St. Petersburg.The company is pulling out of Florida’s home insurance market because they say state lawmakers didn’t do enough during the home insurance special session to combat fraud and litigation.Policyholders will be notified of the cancellation within the state’s required 4-month window. The company released a statement saying: “This decision was difficult, however, necessary to allow us to grow responsibly and maintain our long-term financial objectives.”Related: How Florida insurance companies going under leaves buyers out to dryRelated: Florida property insurance company goes under, leaving policy holders scramblingRelated: Insurance experts say shady contractors gaming legal loopholes in Florida
Nearly two months into hurricane season and homeowners across the state are bracing to find out when their insurance company will stop insuring their homes.
Bankers Insurance Group is based out of St. Petersburg.
The company is pulling out of Florida’s home insurance market because they say state lawmakers didn’t do enough during the home insurance special session to combat fraud and litigation.
Policyholders will be notified of the cancellation within the state’s required 4-month window.
The company released a statement saying:
“This decision was difficult, however, necessary to allow us to grow responsibly and maintain our long-term financial objectives.”
Related: How Florida insurance companies going under leaves buyers out to dry
Related: Florida property insurance company goes under, leaving policy holders scrambling
Related: Insurance experts say shady contractors gaming legal loopholes in Florida
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