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Platinum Underwriters has joined the roster of reinsurers to have received permission from the Florida Office of Insurance Regulation (Floir) to post reduced collateral on business that it writes in the state.

The company will now be required to post only 20 percent collateral to support its underwriting, down from 100 percent previously.

Platinum's entry takes the growing group of reinsurers writing reduced collateral business in Florida to 18 and the firm is the 16th Bermudan reinsurer to receive a...

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