A Florida insurance company is on its way to closing its door as it informed agents it is going to start dropping policyholders when their policies are up for renewal.

Argus Fire & Casualty, a subsidiary of the Miami Gardens-based United Automobile Insurance Co., has roughly 15,000 policies in force. The insurer has been under regulatory review since last year. Regulators agreed to let the insurer go into run-off mode as opposed to be taken by the state.

A.M. Best indicated the insurer was having problems as far back as 2008 and it lost its Demotech rating in March 2010. Last year, regulators allowed Argus to move 4,000 policies it had taken from the Citizens Property Insurance Corp. back into the state-run insurer.

At the present time SRS Insurance does not have any policies witht this insurance company and we are just informing you of the comapny status....

Terry Young
SRS Insurance Group
Ph 1-877-222-8765

Posted 9:26 AM

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.