Fidelity National Buys Flood InsurancePolicies Out Of Bankruptcy

July 03, 2006, 1:00 a.m. EDT 1 Min Read

JACKSONVILLE, Fla. - (07/03/06) Fidelity National Financialannounced Friday it has been cleared by state regulators to buy63,000 existing flood insurance polices from Southern FamilyInsurance Co., which was placed into liquidation the month before.The Florida Department of Financial Services, as receiver approvedthe purchase by Fidelity National. The title insurance giant willservice the polices which provide coverage under the National FloodInsurance Program, administered by the Federal Emergency ManagementAgency. Fidelity Nationals Casualty Insurance Co. subsidiarywill service the policies through its in-house flood processingunit in St. Petersburg.

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