Monarch National Insurance homeowners insurance

Overview

Monarch National Insurance Company is a Tallahassee-based property insurer that writes only in Florida. It sells homeowners (HO-3), condo (HO-6), renters (HO-4) and dwelling fire (DP-3) policies through independent agents, and its day-to-day underwriting, policy service and claims are run by an affiliated managing general agent, HP Managing Agency, which also manages a newer sister carrier, Viceroy Preferred Insurance Company. NAIC files the business under the Hale Partnership Group, named for the North Carolina investment firm whose funds own Monarch. The group ranked #56 among U.S. homeowners insurance groups by 2025 direct premiums written, with $414.9 million (0.22% of the national market), according to NAIC market share data.

Two things define Monarch for most policyholders. First, it is a successor company: in 2022 it absorbed most of the Florida book of FedNat, a carrier that was liquidated later that year, and it has since grown through takeouts from Citizens Property Insurance Corporation. Many Monarch customers never chose the company; their policy moved to it. Second, it is rated by Demotech rather than AM Best, which is normal for a Florida domestic insurer of its size.

History

Monarch began as a joint venture announced in July 2014 by Federated National Holding Company, the Canadian merchant bank C.A. Bancorp (through its Crosswinds affiliate) and Transatlantic Reinsurance (TransRe). The Florida Office of Insurance Regulation (OIR) authorized Monarch National to do business on March 19, 2015, with Federated National providing managing general agency and claims services. In February 2018 Federated National bought out its partners, paying $12.28 million for Crosswinds' 42.4% interest in the holding company and $4.40 million for TransRe's 15.2%, which left Monarch wholly owned by Federated National, later renamed FedNat.

FedNat's troubles set up the next chapter. In 2022, facing an expensive reinsurance renewal and a Demotech downgrade at its main carrier, FedNat arranged a $15 million investment in Monarch by funds managed by Hale Partnership Capital Management, the firm run by Steve Hale. Effective June 1, 2022, OIR authorized Monarch to assume about 78,000 Florida policies from FedNat Insurance Company, lifting Monarch to roughly 83,000 policies. According to OIR, the Hale investors acquired 60% of Monarch's stock from FedNat Holding Company on June 30, 2022 and bought the remaining 40% in later transactions. FedNat Insurance Company itself was ordered into liquidation on September 27, 2022.

On January 1, 2023 Monarch replaced FedNat Underwriters with HP Managing Agency as its MGA and claims administrator. Leadership listed by HP Managing includes David Lockhart, president and chief financial officer, and Kerrie A. Ruland, chief operating officer. In August 2025 OIR announced Viceroy Preferred Insurance Company, a Florida-domiciled affiliate approved for homeowners multi-peril and dwelling fire, as the 15th new property insurer to enter the state since the 2022 reforms. Viceroy is aimed at high-value homes, starting on Florida's east coast, and lists an HO-5 "Homeowners Preferred" policy and a DP-1 landlord form.

Homeowners coverage

Monarch's product pages are brief. The HO-3 is for owner-occupied Florida homes and covers the dwelling, personal property and liability. The HO-6 covers a condo unit owner's portion of the building and belongings, the HO-4 covers renters' belongings and liability, and the DP-3 dwelling fire form covers rental or other non-owner-occupied homes, including the loss of rental income. Former Citizens policyholders on a DP form can add replacement cost on the dwelling with a signed request and an additional premium, which matters because many dwelling fire forms settle on actual cash value unless you buy the upgrade.

Flood is excluded from the homeowners form, as it is on almost every Florida policy. Monarch sells flood coverage through its partner Taurus Flood, which handles flood billing and claims separately. Specific endorsements, roof settlement terms and eligibility rules are kept in underwriting guides in the agent portal rather than on the public site, so ask the agent for the declarations page and the endorsement list before you bind. Florida law requires insurers to offer hurricane deductible options of $500, 2%, 5% and 10% of the dwelling limit; on a $350,000 home, a 2% hurricane deductible is $7,000 per hurricane season. New policies generally go through a property inspection: Monarch uses Chrp Technologies, and owners have 30 days to complete a photo-based inspection.

Discounts and savings

The only discount Monarch describes publicly is the windstorm mitigation credit, which reduces the wind portion of the premium. It is based on a Florida Uniform Mitigation Verification Inspection (form OIR-B1-1802) completed by a qualified inspector such as a licensed contractor, engineer, architect or home inspector. The form scores roof covering, roof deck attachment, roof-to-wall connections, roof geometry, secondary water resistance, opening protection and building code, and Monarch says it is valid for up to five years. A wind mitigation inspection usually costs far less than the credit it can earn on an older Florida home. Viceroy tells shoppers to ask their agent which discounts apply; neither site lists bundling, alarm or claims-free discounts.

Where it sells and recent market moves

Monarch writes only in Florida. Its growth since 2023 has come largely from Citizens. OIR's take-out list shows consent orders approving Monarch takeouts on March 31, July 31, September 1 and October 31, 2023, and on July 31, August 29 and November 15, 2024, with assumption dates running from June 2023 to February 2025. An approval sets a maximum; the number of policies that actually move is usually lower.

If you receive a Monarch takeout offer, read it closely. Under Florida's eligibility rule, a Citizens policyholder whose renewal offer from a private insurer is within 20% of the Citizens premium can no longer stay with Citizens, a point Monarch's own takeout FAQ makes. You can still pick another private carrier through your agent before the assumption date. Policies stay with Citizens until they renew onto Monarch paper, and renewal documents go out about 45 days before that date. The takeout guide explains the choices.

Claims

Report a claim online through the claim portal on monarchnational.com, by calling Customer Care at 800-293-2532 (staffed Monday through Friday, 9 a.m. to 5 p.m.), or through your agent. Flood claims go to Taurus Flood at 800-759-8656 or its online portal. Florida's 2023 claims rules apply: an insurer must acknowledge a claim within 7 days, start an inspection within 30 days and pay or deny within 60 days of notice, absent factors beyond its control.

Monarch's claims history after Hurricane Ian is the main thing to know. OIR's targeted market conduct exam, issued April 21, 2025 and covering Ian claims from September 2022 through 2023, found that in a sample of 320 Ian claims Monarch used adjusters who were not properly appointed in 88 (27.5%), missed the 90-day deadline to pay or deny in 39 (12.2%) and left the required disclosure off preliminary estimates in 112 (35%). The exam also found that a system malfunction from June 2023 to August 2024 kept 952 Homeowner Claims Bill of Rights notices from reaching policyholders who had come over from Citizens.

Ratings and reputation

Demotech affirmed Monarch National's Financial Stability Rating of A (Exceptional) on September 17, 2026; Demotech lists the company's reinsurance use at 50% to 60% of premium. Fannie Mae accepts a Demotech A for the mortgages it buys. Monarch has no AM Best, S&P or Moody's rating and does not appear in J.D. Power's home insurance or property claims studies.

In August 2025 Monarch signed a consent order with OIR (case 401303-25-CO) that followed the market conduct exam and carried a $325,000 fine, one of several fines over Ian and Idalia claims handling reported by the News Service of Florida. OIR found no exceptions in Monarch's claims-handling manual.

Who it suits

Monarch fits Florida homeowners, condo owners and small landlords who work with an independent agent and want a Florida-only carrier with a Demotech A rating, and it is a common landing spot for Citizens policyholders moved by takeout. Before you accept a takeout, compare the Monarch offer with Citizens' coverage line by line and ask about roof settlement terms and deductibles. Shoppers who want published product details, a wide discount menu, a national-agency rating or a strong regulatory record will find thinner material here than at larger Florida carriers such as Universal Property & Casualty or Florida Peninsula Insurance.

• Strengths: Demotech A (Exceptional), affirmed September 2026; Florida-focused HO-3, HO-6, HO-4 and DP-3 policies through local independent agents; flood available through a partner; repeated OIR approval as a Citizens takeout carrier.
• Weaknesses: a 2025 OIR exam found widespread Hurricane Ian claims-handling violations and led to a $325,000 fine; customer care is staffed weekdays only; few product, endorsement or discount details are published; no AM Best rating and no J.D. Power ranking.

How to contact Monarch National Insurance