A study by researchers from Harvard and Columbia universities and at the Federal Reserve has reopened the debate about the financial fortitude and the financial rating system for dozens of Florida property insurance companies.
The president of Demotech, the firm that rates the vast majority of Florida-domiciled carriers, said the study was incomplete, out of date, and was a continuation of a “hit job” that began in 2022, after Demotech reportedly warned that it planned to downgrade multiple Florida insurers.
“One of the authors contacted us yet never responded when I offered to send whatever data she needed,” Petrelli said in an email. Pe