Heritage Insurance adds 35K policies from Sunshine State

|About: Heritage Insurance Holdi... (HRTG)|By:, SA News Editor

Sunshine State Property & Casualty has begun a court-ordered liquidation and Heritage (HRTG +4.7%) has won the right to offer coverage on 35K policies with $60M in premium.

All rates will remain the same through a transition period, and then SSIC policies will receive the lower of SSIC's rates or Heritage's rates. Many consumers, says HRTG, will receive a rate decrease.