The Real Deal Miami

Coral Insurance could go under

April 09, 2009 11:36AM

The Department of Financial Services filed a suit in Leon County Court to assume control of Hollywood-based Coral Insurance. The insurer is in a precarious financial position, regulators said, and its reinsurance agreements will expire May 31. Security First Insurance, United Property & Casualty Insurance, Edison Insurance, and Cypress Property and Casualty have said they will hire the company’s agents and offer coverage to current Coral policyholders.