Search results
- St. Petersburg-based UPC Insurance has officially declared insolvency after experiencing significant financial losses, primarily as a result of Hurricane Ian-related claims.
stpetecatalyst.com › st-pete-insurer-upc-is-officially-insolvent
People also ask
What happened to UPC insurance?
Is United property & casualty insurance company (UPC) insolvent?
Is UPC insolvent?
What if I have an open claim with UPC?
Feb 27, 2023 · On February 16, 2023, Michael Yaworsky, the Interim Commissioner of the Florida Office of Insurance Regulation, found that UPC was “insolvent.” This means that UPC can’t pay all of its obligations, such as policyholder claims. UPC must now bring its business to an end and pay claims and bills with available money and assets. 3.
Feb 23, 2023 · Homeowners insurer United Property & Casualty Insurance Company (UPC) has declared insolvency in Florida after its estimated losses from Hurricane Ian increased to $1.5 billion, over $500...
Mar 28, 2023 · Our company is bankrupt. So, where are we getting our money? Who are we turning to?” That’s where the Florida Insurance Guaranty Association comes in. “If an insurance company becomes...
Feb 28, 2024 · But UPC became insolvent early last year, so Fabrizzi’s claim was taken over by the Florida Insurance Guaranty Association, or FIGA, a non-profit created by the state to process and pay claims...
Feb 21, 2023 · February 21, 2023 at 01:55 PM. 4 minute read. By Jim Saunders | February 21, 2023 at 01:55 PM. State regulators moved forward with placing United Property & Casualty Insurance Co. into...
Feb 20, 2023 · “UPC was heavily concentrated in the Southwest Florida region and received approximately 25,000 claims from Hurricane Ian with a gross estimated loss of over $1 billion,” reads a statement...
Oct 4, 2023 · On February 27, 2023 United Property and Casualty Insurance Co. (“UPC”) filed for bankruptcy, leaving thousands of policyholders—many with extensive damage from Hurricane Ian—scrambling to get their claims paid as well as secure insurance from another carrier.
