Avatar agreed to the order and the findings that the company is insolvent. The company wrote only in Florida and 85% of its business is homeowners multi-peril with the rest fire and commercial coverage, per AM Best. (Credit: Ivan Cholakov/Shutterstock.com)
Coming in the wake of St. Johns Insurance Company's insolvency in Florida, Avatar Property & Casualty, which has just over 32,000 policyholders, has been ordered into receivership for the purpose of liquidation by a Florida court. The Florida Department of Financial Services (FDFS) is the court-appointed receiver, according to state documents.
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Christine G. Barlow, CPCU
Christine G. Barlow, CPCU, is Executive Editor of FC&S Expert Coverage Interpretation, a division of National Underwriter Company and ALM. Christine has over thirty years’ experience in the insurance industry, beginning as a claims adjuster then working as an underwriter and underwriting supervisor handling personal lines. Christine regularly presents and moderates webinars on a variety of topics and is an experienced presenter.
