Friday, August 19, 2011

'Not healthy for the industry'

Citizen's has been undergoing a 'take out.' It was ordered to give up some of its policies to the rest of the market. As would be imagined, several private insurance companies have gained from this move. One such company is Homeowners Choice Inc. Paresh Patel is now president, CEO, and director of the company. In its July 11, 2011 edition of "Best Week" AM Best report of that Homeowners Choice report that,
The company's book of business doesn't change much year over year, and Homeowners Choice doesn't add or drop policies based on factors like modeling changes or sinkhole risks, which Patel said is "not healthy for the industry."
The company has 1.68% of the market share and hopes to one day grow to holding 5% of the market.

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