Platinum the latest reinsurer to secure Florida collateral relief
Platinum Underwriters has joined the growing band of reinsurers that have received permission from the Florida insurance regulator to post reduced collateral on business that it writes in the state.
Henceforth Platinum will be required to post just 20 percent collateral to support its underwriting, down from 100 percent.
Platinum's accession takes the group of reduced collateral reinsurers to 18. These are: Ace Tempest Reinsurance; Allied World Assurance Company; Alterra Bermuda; Arch Reinsurance; Ariel Reinsurance Company; Aspen Insurance; Axis Specialty;...
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