FedNat group to cancel 68,200 policies as Monarch lines up new investor
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FedNat group to cancel 68,200 policies as Monarch lines up new investor

Fiona Robertson
16 May 2022
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FedNat Insurance logo Fort Lauderdale Florida.jpg

The Florida Office of Insurance Regulation (Floir) has signed off on a plan that will cancel 68,200 policies written by FedNat Insurance Holdings brands as the group put forward a proposal that would lead to the closure of FedNat Insurance, while keeping afloat Monarch with new investment backing.

The filing on Friday 13 May showed the regulator agreed that 56,500 of FedNat Insurance’s 140,000 policies in Florida could be cancelled on 45 days’ notice, along with 8,400 policies written by Monarch and all of Maison’s 8,400 residential...

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