Workers comp carrier seventh Florida insurer to fail
12/07/2011
Southern Eagle Insurance Company, headquartered in Bradenton, Florida, was ordered into
receivership for the purposes of rehabilitation on December 6. The six-year-old workers'
compensation insurer was ordered to cease writing and/or renewing policies on November 22
by Florida's Office of Insurance Regulation. The policies are not cancelled and policyholders
should continue to pay premiums as usual in order to continue their coverage.
Southern Eagle had assets of $18.6 million as of September 30 and underwriting losses of
$4.9 million. Weiss had identified it as "Weak" since coverage started in 2006.
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.