secwatch.observer — SEC 8-K summary
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Issuer:     HCI Group, Inc. (HCI)
CIK:        0001400810
Form:       8-K
Filed at:   2023-10-02T23:59:59+00:00
Accession:  0000950170-23-051149
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HCI unit signs agreement to assume policies from Florida's Citizens Property Insurance
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- Homeowners Choice Property & Casualty entered an Assumption Agreement with Citizens Property Insurance Corp. to assume policies under Florida's depopulation program.
- Agreement effective Sept. 26, 2023, covers Assumptions from Jan. 1, 2023, through Dec. 31, 2023; Insurer must offer coverage for at least three years.
- Assumptions require approval from the Florida Office of Insurance Regulation; Insurer must maintain compliance with all conditions.
- If Insurer default occurs (e.g., regulatory action), Citizens may prohibit further Assumptions; Insurer bears costs of audits.
- Insurer must appoint or have limited servicing agreements with agents of record for selected policies and pay commissions per Florida law.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1400810/000095017023051149/0000950170-23-051149-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1400810/000095017023051149/hci-20230926.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-051149

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