Tampa-based HCI Group Inc. is launching a property insurance subsidiary, Tailrow Insurance, marking the first new entrant to Florida’s property insurance market since lawmakers passed historic reform measures to tamp down excessive litigation.
HCI Group will issue 2.5 million shares of common stock at $1 a share on behalf of Tailrow, according to a consent order by the Florida Office of Insurance Regulation. HCI Group primarily writes residential property and casualty insurance through…
