Fla. Property Insurer Liquidates and 33K Lost Coverage

SARASOTA, Fla. – Skip Walz received an unwelcome shock very last week when a letter arrived informing him that his house insurance plan firm is remaining liquidated. With peak hurricane time approaching, Walz scrambled to find an additional insurance company ahead of his policy is canceled Aug. 27.

Hundreds of other owners across Florida are in the similar predicament following Sarasota-based Gulfstream Assets & Casualty Insurance plan went into liquidation on July 28.

“A lot of persons are having difficulties with this,” Walz mentioned.

Shaped in 2004, Gulfstream generally operated in Florida but also at the time offered guidelines in Louisiana, Alabama, Mississippi, Texas and South Carolina.

The liquidation is forcing Gulfstream’s approximately 33,000 remaining Florida shoppers – the firm had 2,900 guidelines in Sarasota and Manatee counties as of 2019 – to change carriers just as the hurricane time ramps up.

It also is saddling the state with an

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