St. Pete home insurer, behind $30M in capital, starts selling policies

Patriot Select Property and Casualty Insurance Co. has begun selling homeowner insurance policies through Florida independent agents.

The just formed St. Petersburg insurer, which is in the process of assuming policies from Citizens Property Insurance Corp., says in a statement that it is entering the market with both a industry high rating and the funds necessary to deal with claims from major storms.

According to the company, it has received an A for Financial Stability Rating from Demotech, a leading national property insurance rating agency. (The A rating appears on the Ohio-based company’s website.)