UPC To Be Liquidated; Client Form Letter Available
Florida-based property-casualty insurer UPC Insurance is insolvent and is to be liquidated, according to a consent order made public on Feb. 17. If you have clients who own UPC policies, we urge you to contact them as soon as possible to inform them of this development and discuss replacing coverage.The insurer, which as of last summer had 151,325 policies in force in six states other than Florida (including New York,) was under the supervision of the Florida Office of Insurance Regulation pursuant to a runoff plan agreed to by the insurer and the OIR last December. The plan was for the insurer to remain solvent while…