FLORIDA INSURANCE SHIFT

Insurance regulators say tens of thousands of Florida homeowners will be shifted to a different insurer this spring because of one company’s financial troubles. 43,000 policyholders will be moved from Anchor Property and Casualty Insurance Company to Homeowners Choice Property and Casualty Insurance Company effective April 1st. The move came after Anchor’s financial-stability rating was downgraded. Under the transition plan, Homeowners Choice will provide replacement policies for Anchor customers, with premiums transferring to Homeowners Choice. When the policies expire, the customers will be able to renew with Homeowners Choice, though coverage terms could change.

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