Flood Policies Out Of Bankruptcy
Fidelity National Financial has been cleared by state regulators to buy 63,000 existing flood insurance polices from Southern Family Insurance Co., which was placed into liquidation the month before.
The Florida Department of Financial Services, as receiver, approved the purchase by Fidelity National.
The title insurance giant will service the polices which provide coverage under the National Flood Insurance Program, administered by the Federal Emergency Management Agency.
Fidelity National's Casualty Insurance Co. subsidiary will service the policies through its in-house flood processing unit in St. Petersburg.