News Releases

Florida Family A.M. Best Rating - 2002

Naples, Florida, May 10, 2002… Florida Family Insurance Company's financial stability rating from A.M. Best Company has been affirmed as "B+"" (Very Good), consistent with the initial rating received in January 2001. The rating recognizes that Florida Family utilizes a mix of prudent underwriting standards, 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, "A.M. Best continues to recognize Florida Family's strong performance in the Florida marketplace. Our commitment to service excellence will always make us a leader. It is very satisfying to have our efforts validated once again by industry experts."

The rating follows an extensive review of Florida Family's management, operations, reinsurance program and investments. It confirms that 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 rather than market share.

Florida Family continues to maintain its "A" rating from Demotech, Inc, which is also authorized by federal agencies to provide financial stability ratings of insurance companies.