Hiscox the latest carrier to secure Florida collateral boost
The Bermuda operation of Lloyd's (re)insurer Hiscox is the latest to secure approval from the Florida regulator to cut its collateral requirements back from 100 percent to 20 percent.
Like most states, until recently it was the Florida Office of Insurance Regulation's policy to insist that foreign reinsurers post collateral of 100 percent of loss reserves.
But earlier this year it opted to reconsider this rule on a case-by-case business, in a move designed to encourage additional private capacity in...
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