Florida-based homeowners insurer United Property & Casualty Insurance Company (UPC) has introduced it’s leaving a number of states subsequent yr.
The firm has about 36,000 Louisiana policyholders and can start non-renewing its insurance policies in 2023, officers say.
According to UPC, about 33,000 policyholders whose present coverage time period is scheduled to finish in 2023 will obtain written notification of non-renewal from UPC not less than 30 days earlier than their protection finish date.
UPC is extending protection for its roughly 3,000 policyholders whose present coverage time period is scheduled to finish between November 26 and December 31, 2022. UPC will ship these policyholders an bill for the prolonged protection interval and a discover of non-renewal not less than 30 days earlier than their prolonged protection finish date.
The Florida Office of Insurance Regulation discovered that UPC’s plan for exiting the market gives an inexpensive foundation to help an orderly and solvent runoff of its insurance policies.
The LDI encourages UPC policyholders to carefully monitor their mail for any communication from the corporate.
UPC will proceed dealing with excellent claims for its policyholders. Policyholders who really feel their declare has not been correctly resolved by their insurer could name the LDI at 800-259-5300 and file a criticism.