Tampa, FL (December 23, 2016) – SafePoint Insurance (SafePoint) today announced the Company has been authorized by the Texas Department of Insurance to write Property business in the state of Texas. SafePoint was launched in November of 2013 to initially write Florida homeowners business and expanded into Louisiana in 2015. The Company has been assigned an AM Best Rating of B and a Financial Stability Rating® of A, Exceptional, from Demotech, Inc., leading providers of financial ratings for insurance companies.
Based in Tampa, FL, SafePoint is led by David Flitman, Chief Executive Officer, who has extensive insurance and reinsurance experience in the coastal markets and beyond. Prior to launching SafePoint, David was based in Bermuda as the Executive Director of Global Property Underwriting and Chief Actuary for Flagstone Reassurance Suisse SA. In this role, David participated on a number of Florida, Louisiana and Texas reinsurance programs.
Initially, SafePoint will participate in the Assumption Reinsurance Depopulation Program of the Texas Windstorm Insurance Association (TWIA) on December 1, 2017. The Company will limit its assumption to policies it intends to write over the long-term. SafePoint is currently evaluating other opportunities in Texas.
Mr. Flitman commented “We are very pleased to add to our Florida and Louisiana businesses and enter the dynamic Texas property insurance market to offer Texans another choice for their insurance. SafePoint is committed to being a long-term partner of the independent insurance agents in Texas by providing high quality service and financial security for their customers.”
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Tampa, Florida, 12/18/16: For the third straight year, SafePoint Insurance Company has partnered with Tampa’s own Rough Riders to participate in their annual “Teddy Bear” drive. The Rough Riders are a living memorial to President Theodore Roosevelt and the members of its voluntary cavalry regiment, who played an instrumental role in the Spanish American War, as well as Tampa history. Every year, the Rough Riders collect, sort, and distribute thousands of teddy bears to hospital patients, cancer survivors and their families, centers for abused women and children, community health centers, special needs day care centers, and foster children. Safepoint collected the bears from its employees during the month of December and expanded the collection to include teddy bears donated by their agency partners this year.
“Commitment to our community is very important as we grow our Tampa employee base and expand our Florida presence”, says Nancy Baily, Chief Operating Officer. Safepoint announced in 2014 the launch of their Safepoint Gives Back program with an initial pledge to the Step Up for Students Scholarship Program to fund scholarships for low-income Florida students. In addition to funding scholarships, the Safepoint Gives Back program focuses on education by providing internships for students to learn about the insurance industry, by mentoring of actuarial students and by partnering with InVEST, a program sponsored by the Big I Independent Insurance Agents that provides insurance education to high school and college students.
About SafePoint Insurance Company
SafePoint Insurance is a privately held Florida licensed insurance company based in Tampa, FL, specializing in residential and commercial lines property insurance products in Florida and Louisiana. SafePoint utilizes independent insurance agents to sell their products. Safepoint currently insures more than 70,000 Floridians. With over $40 Million in policyholder surplus and local presence, SafePoint has the financial resources to protect Florida’s homeowners. SafePoint is rated “B” (Fair) by AM Best (www.ambest.com) and rated “A” (Exceptional) by Demotech (www.demotech.com).