Page 41 - நீண்டது கால வழங்குபவர் கடன் ரேடிஂக் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Regulator Deems Florida-Based American Capital Assurance Corp. Insolvent After negative moves by ratings agencies last month to address its financial issues, Florida’s insurance regulator says American Capital Assurance Corp. (AmCap) is insolvent and should be placed in receivership, In a letter dated April 2 to Chief Financial Officer Jimmy Patronis, Florida Insurance Commissioner David Altmaier said the Office of Insurance Regulation (OIR) has determined that grounds exist for the “initiation of delinquency proceedings” against AmCap. Included in the letter is a consent to order of receivership signed by AmCap “in which it admits that is insolvent.” The Florida-based insurer, which focused on commercial residential and non-residential property risks, as well as flood coverage, had more than 1,900 policies in force in Florida as of Sept. 30, 2020, with nearly $80 million in annualized premium, according to OIR data. The company also writes business in Georgia, Louisiana

United statesNorth carolinaSouth carolinaJoseph petrelliDavid altmaierJimmy patronisAmerican capital assurance corpOffice of insurance regulationDepartment of financial services division rehabilitationAmerican capital assuranceChief financial officer jimmy patronisFlorida insurance commissioner david altmaierInsurance regulationFinancial services divisionInsurance journalPresident joseph petrelli