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- St. Petersburg-based UPC Insurance has officially declared insolvency after experiencing significant financial losses, primarily as a result of Hurricane Ian-related claims.
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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 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...
Feb 27, 2023 · On June 21, 2023, an additional 1,725 POCs were mailed by the Department, via the U.S. Postal Service. The deadline for filing a POC is February 27, 2024.. If you have received a POC form after the deadline specified above, please see the “Late Filed POC Notice" linked at the bottom of this page under “Related Documents", “Other".
Aug 1, 2023 · After UPC Insolvency, Parent Company Rebrands to American Coastal Insurance. By William Rabb | August 1, 2023. Six months after its namesake insurance carrier was deemed insolvent, United ...
