Porch Group’s insurance carrier Homeowners of America placed under regulatory supervision
Housing Wire
SEPTEMBER 5, 2023
Porch Group announced that its insurance subsidiary Homeowners of America (HOA) has been placed under temporary supervision by Texas regulators. Porch said since terminating a reinsurance agreement connected with Vesttoo on August 4, HOA replaced 84% of the roughly $175 million in reinsurance coverage provided under that contract.
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