HomeWise Insurance Company ordered into liquidation by Florida regulators
11/21/2011
Homeowners insurer, HomeWise Insurance Company in Leon County, Florida, was ordered into liquidation on November 18.
Weiss rated the company a D ("Weak") at the time of failure and had rated it "Weak" for more than four
years. HomeWise reported negative equity capital of $23.8 million as of June 30 and had lost $7.9 million through the first
six months of the year.
Homeowner's Choice Property and Casualty Insurance Company assumed all of the policies as of November 1, and all
policies (except for those who opted out) remain in force. Policies for those who opted out will be cancelled as of
December 18. Flood policies will remain in force through January 1, 2012.
Consumers can review the
FAQ section for information on what to do if an insurance company fails and can also
view all insurance company failures from 2008 to the present.