Argus Fire & Casualty Insurance Co. will cancel its roughly 9,000 home insurance policies within 45 days, as part of a deal to be taken over by the state on Tuesday.
Policyholders will have to scramble to find a new insurer during hurricane season, which started Wednesday.
Regulators have “decided that it is in the policyholder’s best interest to cancel all of its existing policies,” Argus wrote in a letter that is going out immediately to policyholders, agents and mortgage companies.
via House Keys | Sun Sentinel Blogs | Florida home insurer Argus will fold.