Demotech In Process of Florida Financial Stability Rating Review and Confirmation
May 22, 2009
As you are aware, Demotech Inc. has been in the process of revising or confirming its Financial Stability Ratings for its rated Florida companies based on issues related to the liquidity of the Florida Hurricane Catastrophe Fund.
Should you receive communication from Demotech, Inc. or the Florida Office of Insurance Regulation (“OIR”) regarding your company’s rating, or the issue of financial ratings in general, please advise Colodny Fass and we will be pleased to assist you with the review of such communications and provide guidance in preparing any action plan or needed response.
Our experience and continuing relationship with the OIR regarding the impact of Demotech insurer ratings upon both individual companies and the Florida market consistently have provided our clients with insight and significant value.