Insurance burden could fall on policy holders [Florida]
Picking up the pieces after Poe Financial Group’s breakdown will fall to the state’s insurance pool — and possibly Florida residents.
The downfall of Poe Financial Group, Florida’s largest insurance insolvency, is a burden that will fall to the state’s insurer of last resort — and eventually to every insurance policyholder in Florida.
A large chunk of the 316,000 policies held by the three Poe companies will likely wind up on Citizens Property Insurance’s books, catapulting the company to the state’s No. 1 insurer of homeowners, condo dwellers and apartment renters.