Viceroy Preferred Insurance Company received approval from the Florida Office of Insurance Regulation as the state’s 15th new insurer since the 2022–2023 legislative reforms aimed at curbing claims abuses and frivolous lawsuits. Viceroy shares a board and a Tallahassee mailing address with Monarch National Insurance Company, with overlapping officers including John David Lockhart and William B. Carter Jr. Both companies are operated by HP Managing Agency, part of Hale Partnership Capital Management. In 2022, Hale invested $15 million to enable Monarch to assume 78,000 Florida policies from FedNat, a restructuring that helped FedNat avoid insolvency.
Get ready for Viceroy Preferred Insurance Company, the latest in what's shaping up to be a long line of fresh new property insurers competing for Florida homeowner policies. The Florida Office of Insurance Regulation on Thursday announced Viceroy as the 15th insurer approved to operate in the state since Legislative reforms of 2022 and 2023 were enacted to reduce purported claims abuses and frivolous lawsuits.
The company shares its board of directors with Monarch National Insurance Company, according to the state's Department of Corporations website. Both companies list John David Lockhart as president and William B. Carter Jr. as secretary. Rounding out the boards are Steven Hale II, Peter Sherman, Jeffrey Stewart and Jacqlyn Piscetelli. Both companies share a Tallahassee mailing address. The two companies are operated by HP Managing Agency, which is part of Hale Partnership Capital Management, a Charlotte, North Carolina-based investment firm.
#florida-homeowners-insurance #insurance-regulation #monarch-national #hale-partnership-capital-management
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