The Real Deal Miami

Tower Hill downgraded

August 31, 2009 01:02PM

A.M. Best, a leading insurance rating agency, downgraded Gainesville-based Tower Hill Insurance Group on concerns that it won’t be able to honor claims if the state sees multiple hurricanes this year. A.M. Best dropped Tower Hill’s rating to Poor from Fair. The company has 254,000 policies in the state, according to the Florida Office of Insurance Regulation.