Penn Treaty American Temporarily Suspends Sales in Florida
A subsidiary of insurance firm Penn Treaty American Corp. has temporarily suspended new sales of Florida policies pending the filing and review of its 2005 statutory audit report, the company announced this week.
Penn Treaty Network America Insurance Company expects to file its report within ten business days. The report must then be reviewed by the Florida Department of Insurance Regulation.
Florida sales have accounted for approximately 6 percent of new applications this year, the company said. Allentown, Penn.-based Penn Treaty expects the cessation to be temporary and to have minimal effect on the company’s operations.
Copyright 2024 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Popular Today
- Apollo Accused in Lawsuit of Illegal Human Life Wagering Scheme
- Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
- ‘Fearless Girl’ Lawsuit by State Street Settles on Eve of Trial
- 4,800 Claims Handled by Unlicensed Adjusters in Florida After Irma, Lawsuit Says
Popular This Month
- California Sees Two More Property Insurers Withdraw From Market
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting