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South Florida

Coral Insurance could go under

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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.