---
schema_version: "secwatch.filing_event.v1"
accession: "0001784535-23-000019"
form_type: "8-K"
ticker: "PRCH"
cik: "0001784535"
company_name: "Porch Group, Inc."
filed_at: "2023-09-05T23:59:59+00:00"
generated_at: "2026-06-11T00:06:25.692053+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Porch Group's HOA placed under temporary TDI supervision due to Vesttoo fraud

## Summary
- HOA placed under temporary supervision by Texas Department of Insurance on Sept 5, 2023.
- Vesttoo fraud led to $48.2M charge for doubtful accounts on reinsurance in Q2 2023.
- HOA holds $192M unrestricted cash; secured $147M in supplemental reinsurance (84% replacement).
- HOA continues day-to-day operations; writing new business, renewals, and paying claims under TDI oversight.
- Company expects supervision to last until TDI is comfortable with HOA's post-Vesttoo financial position.

## SEC filing metadata
- accession: 0001784535-23-000019
- form_type: 8-K
- ticker: PRCH
- cik: 0001784535
- company_name: Porch Group, Inc.
- filed_at: 2023-09-05T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1784535/000178453523000019/0001784535-23-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1784535/000178453523000019/prch-20230905x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001784535-23-000019
- JSON: https://secwatch.observer/filing/0001784535-23-000019.json
- Plain text: https://secwatch.observer/filing/0001784535-23-000019.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.