The state of Florida is currently under binding suspension for both Personal and Commercial Lines new business as well as increases in limits, increases in coverage and deductible changes for all policy forms. These restrictions remain in effect until further notice and are subject to change based on the potential impact of the storm. We will notify you when the restrictions are lifted.
SafePoint is proud to be rated favorably by leading independent rating organizations. These companies specialize in reviewing, analyzing and attesting to insurance companies’ financial security and their ability to deliver on promises made to policyholders.
This financial stability rating is an indication of an insurance company’s financial strength.
According to Demotech, an A rating means Safepoint has an Exceptional ability to maintain liquidity of invested assets, quality reinsurance, acceptable financial leverage and realistic pricing while simultaneously establishing loss and loss adjustment expense reserves at reasonable levels.
For details, visit Demotech on-line here.
SafePoint also understands that one very important aspect of writing property insurance in Florida is having a strong catastrophe reinsurance program. SafePoint has finalized our reinsurance program with the following objectives:
|Category||Year End 2018||Year End 2017||Year End 2016|
|Assets||Cash and Invested Assets||$109,510,615||$147,787,538||$106,319,923|
|Loss and LAE Reserves||$46,593,865||$41,329,121||$33,486,886|
|Capital and Surplus||Total Policyholder Surplus||$45,567,077||$46,115,547||$49,673,579|
|Total Liabilities and Surplus||$155,969,803||$175,386,571||$138,959,852|