Status of Demotech's Financial Stability Rating® Reviews of Florida Focused Carriers

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Oct 14, 2022, 11:28 ET

COLUMBUS, Ohio, Oct. 14, 2022 /PRNewswire/ -- As Floridians and first responders have begun to travel the difficult path required of a return to normalcy post-Ian, Demotech, Inc. continues to review, analyze, and evaluate carrier operating results as well as the anticipated impact of Hurricane Ian.

According to its President and Co-founder, Joseph L. Petrelli, "The efficacy of catastrophe reinsurance programs, disaster recovery plans, and catastrophe response plans is being validated. Although we cannot share material non-public information, we are pleased to report that, as of this date, based upon catastrophe modeling results and the early reporting of claims associated with Ian, each carrier reviewed and rated by Demotech is within their vertical reinsurance tower"

Consistent with our procedures and practices, once Q3 2022 financial results are reviewed, analyzed, and interpreted, Demotech will share its perspective with the carriers. The most current Financial Stability Ratings® (FSRs) are available at www.demotech.com.

About Demotech, Inc.

Since 1985, Demotech has served the industry by assigning accurate, reliable, and proven Financial Stability Ratings® to P&C insurers and Title underwriters. Demotech was the first to review independent, regional and specialty insurers, 1989. Demotech's philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Visit www.demotech.com for additional information.

SOURCE Demotech, Inc.