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What the financial strength of your
Florida insurance company means to you.

Blue Sky Insurance Agency in Boca Raton assesses the financial strength of all our carriers be sure of their solvency and ability to pay claims. You can also assess the financial strength of the carrier to make sure your claims will be fulfilled in the event of a regional catastrophe.

At the top of the list when you are searching for an insurance policy for your home is to assess the financial strength and ratings of the insurance carrier that will be writing your Florida home insurance policy, Florida auto insurance and covering your assets. Typically residents in Boca Raton place a priority on the home insurance rates, what they want to cover and the deductible of their policy. But few people ever look into the ratings and financial strength of the insurance company covering them.

assessing financial strength of florida insurance companies

On your own it would be nearly impossible to make this assessment because these large corporations that insure public property have complicated balance sheets and they change from quarter to quarter depending on their income, the economy, government legislation and claims payouts. Florida law requires these insurance companies to carry a minimum amount of reserve liquid and transferable capital to pay out potential catastrophic losses but you need to know more to asses which ones have the ability to stay financially secure in the event of major claims. As an independent Florida insurance agency, we have several appointments with different carriers so it is important to us that they are stable.

To understand the solvency of an insurance company, private organizations are available for you to access their data and ratings systems. It is an ongoing process that monitors the financial pulse of their ability to pay out numerous large claims.

Most insurance companies invest conservatively and are able to continue strengthening their balance sheets with sound investments. Others however few there are, may invest in junk bonds or commercial real estate which are vulnerable to significant drops in value which in turn can be a detriment to future solvency.

In the event your insurance company becomes insolvent, Florida State law protects you to a large degree under the Florida Insurance Guaranty Association (FIGA). This is a non-profit organization created in 1970 by the Florida Legislature to protect home owners from insolvent insurance companies. If this happens home owners would need to obtain a new policy within 30 days of the insolvency declaration.

Below are the 5 top ratings agencies. Each agency has their own unique ratings system so be sure to educate yourself how each system functions and their ratings codes.

A.M.Best Company, Inc. - A.M.Best Company, Inc. insurance ratings service

Fitch Ratings - Fitch Ratings Insurance ratings service

Kroll Bond Rating Agency, Inc. - Kroll Bond Rating Agency, Inc. insurance ratings services

Moody’s Investor Services - Moody’s Insurance Ratings services

Standard and Poors Insurance Ratings Services - Standard and Poors Insurance Ratings Services


We strive to give our clients
the best customer service,
by putting our clients’ best interest first.

Blue Sky Insurance® Mission Statement “We strive to give our clients the best customer service, putting our clients’ best interest first and foremost.”

Our commitment to you We are committed to providing our clients with comprehensive consultation, dedication, and service by delivering a turnkey insurance solution to meet their specific needs.

Personal service Your coverage is assigned to one of our dedicated customer service representatives. You will always have an agent who is familiar with your file when you need help with claims, additional coverage, or renewal analysis.

Continuity All of your insurance needs are met under one roof, simplifying your life.

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