Tampa-based Slide Insurance, which has made a practice of assuming Florida policies from other insurers in the last two years, said it has acquired renewal rights to 86,000 homeowner policies from Farmers Insurance.
Farmers said in June that it would stop writing new HO coverage in Florida, then announced further cutbacks, including non-renewals, a month later as it manages underwriting losses around the country. Farmers officials said in August that the national carrier was laying off 11% of its workforce – about 2,400 employees.
