News Releases

Florida Family A.M. Best Rating - 2003

Naples, Florida, April 18, 2003… Florida Family Insurance Company's financial stability rating from A.M. Best Company has again been affirmed as "B+" (Very Good). The rating reflects Florida Family’s consistent results, measured growth, and prudent underwriting standards. It also recognizes the Company’s sophisticated reinsurance structures and diversified computer catastrophe modeling support to manage its exposure to potential weather catastrophes.

Rick Hardy, President and CEO of Florida Family, commented, "An A.M. Best rating is the benchmark for assessing an insurer’s financial strength and ability to meet its obligations to its policyholders. Florida Family Insurance Company is one of the few Florida homeowners property domestic insurers to be rated by A.M. Best, and we are pleased to have our strong performance and financial position recognized once again."

The rating follows an extensive review of Florida Family's management, operations, reinsurance program and investments. Florida Family is qualified to provide protection to homes insured by federal government agencies, such as Fannie Mae and Freddie Mac. The rating again cites Florida Family's consistently profitable operating performance, pointing to the company's emphasis on security and profitability as opposed to market share.

Demotech, Inc., another rating service authorized by federal agencies to provide financial stability ratings of insurance companies, rates Florida Family as "A Prime."