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COLUMBUS, Ohio, May 31, 2022 /PRNewswire/ — With the progression and implementation of a revised strategic plan, Tower Hill Insurance Group will no longer engage in contracts with Tower Hill Preferred Insurance Company and Tower Hill Signature Insurance Company. A step in the strategic plan to voluntarily eliminate A’s notable financial® stability ratings (SRFs) effective May 31, 2022.
Tower Hill is excited about the opportunities Exchange brings to agents and customers. The transition to the business style of reciprocal insurance for continued expansion through increased capacity. As they celebrate their 50th anniversary, they remain committed to the Florida market, their partner agencies and their clients.
Demotech President and Co-Founder Joseph Petrelli said: “Tower Hill Insurance Group is an ideas leader focused on responsiveness to consumers and producers. We look to the future to continue our dating as they move forward with Tower Hill Insurance Exchange and Tower Hill Prime Insurance Company. Exchange and Prime retain the FSRs shown earlier this year. In addition, Tower Hill provided definitive hotels for all Tower Hill Preferred and Tower Hill Signature policyholder claims. »
About Demotech, Inc.
Demotech, Inc. was the first company to read about independent, regional and specialty insurers in 1989. More recently, we were the first to convene a special consultation on Florida’s asset insurance market. Since 1985, Demotech has served the industry by assigning reliable and proven monetary® stability ratings to asset and casualty insurers and securities underwriters. Demotech’s philosophy is to read and compare insurers based on their domain of interest and the execution of their business style than only on their monetary size. Visit www. demotech . com for more information.
About Tower Hill
Founded in 1972, Tower Hill Insurance is a leader among residential and advertising asset insurers in the Southeast. Financial strength, product expertise, a comprehensive reinsurance program, and claims service are the organization’s key business strategies.
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SOURCE Demotech, Inc.