What insurance company went out of business?
Numerous insurance companies have faced insolvency or liquidation over the decades due to catastrophic disaster losses, inadequate reserve capitalization, or aggressive underwriting practices. In recent years, several property and casualty insurers operating in high-risk coastal states like Florida—such as FedNat Insurance Company and St. Johns Insurance Company—were forced into receivership and liquidation after buckling under the immense financial strain of severe hurricane claims and surging reinsurance market costs. State guaranty associations subsequently stepped in to manage outstanding claims and protect affected policyholders during these corporate collapses.
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