Slide Insurance is acquiring renewal rights for 86,000 Florida homeowners insurance policies from Farmers.
The news comes after Farmers announced in July that it is exiting the Florida market.
Earlier this year, Slide took over 72k Florida personal lines policies from UPC Insurance, which became insolvent.
“We remain bullish on Florida’s insurance market and believe the market is ripe for an innovator like Slide. The timing is right for us to scale our business and do our part to foster long-term stability in this market. The transaction with Farmers will provide policyholders a seamless transition and ongoing coverage. We have the technology, data set, and expertise to make better, faster decisions. Slide is profitable, has strong capitalization, and unlike legacy insurers, we’re not burdened by years of prior claims and litigation that still need to be resolved.” – Bruce Lucas, Founder and CEO of Slide.
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