What's changed at Monarch National

Every update we've tracked for Monarch National, newest first. Each one links to the full note.

  1. OIR consent order: $325,000 fine over Ian and Idalia claims

    Monarch agreed to a $325,000 penalty after an OIR exam. It found adjusters not properly appointed and late claim acknowledgments. It found missing estimate notices. Some claims were not paid or denied within 90 days.

  2. OIR lets Monarch take 20,000 policies from Citizens

    OIR approved Monarch to assume up to 20,000 personal residential multi peril policies from Citizens. Earlier approvals were 25,000 in Jan 2024, then 30,000 and 25,000 in Oct and Nov 2024.

  3. Hale Partnership buys control; Monarch takes 78,000 FedNat policies

    Hale funds paid $15 million for 60% of Monarch. Monarch took on about 78,000 FedNat Florida policies as of June 1, 2022 under OIR consent orders. FedNat Insurance Company was ordered liquidated Sept 27, 2022.

  4. Monarch National gets the OK to sell in Florida

    OIR issued a certificate of authority for homeowners insurance. It went to a new joint venture. FedNat, Crosswinds and TransRe formed it. Monarch began selling in the second quarter of 2015.

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