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United Property & Casualty Insurance (UPC) is in the last three years, meaning they don’t have enough funding to cover existing policies. As a result, the Florida Office of Insurance Regulation (OIR) declared the company insolvent last week. In such a volatile market, it’s hard to imagine anyone would want to start a property insurance company in Florida, but a new company in Tampa has already become one of the bigger providers, taking on nearly 200,000 policies from companies going under.
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So glad I have all my properties paid off so I can tell the insurance companies to go fvck themselves and their gouging rates!