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White Mountains Insurance Group, Ltd. Message Board

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  • deepvalue2003 deepvalue2003 Sep 1, 2005 7:18 PM Flag

    Florida takes out Sirius International

    Having a hard time cooking that humble pie?

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    • Obviously you didn't take the trouble to read my post properly.

      I'll try again, with slightly more explanantion.

      Sirius International is now prohibited from writing any insurance in the State of Florida - PERIOD.

      They do not have a Certificate of Authority or other eligbility to write business there. Should they write any further business, including renewals, each piece of underwriting would constitute a felony and a fraud, according a reading of the statutes referred to in Order by the Florida regulators, who drafted the Order.

      The terms of the Order, including a waiver of the right of appeal, was agreed by the Sirius International President, who signed it in August.

      Seems to me that's 'Florida taking out Sirius International'; your 'hunble pie' remark was completly incorrect.

      Sirius is now banned from writing insurance in one of the USA's prime insurance markets.

 
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