Florida law bars executives from failed companies from being rehired in similar roles.

When Orlando-based St. Johns Insurance Co. went insolvent in 2022, it spelled the end of one of Florida’s largest insurers. Its 147,000 policyholders found a landing spot when they were moved to Slide Insurance Co., a Tampa startup. Three of St. Johns’ top executives found a landing spot, too — at Slide. State regulators say that was illegal.

TALLAHASSEE — When Orlando-based St. Johns Insurance Co. went insolvent in 2022, it spelled the end of one of Florida’s largest insurers.

Its 147,000 policyholders found a landing spot when they were moved to Slide Insurance Co., a Tampa startup.

Three of St. Johns’ top executives found a landing spot, too — at Slide. State regulators say that was illegal.

Florida law forbids officers and directors of insolvent insurers from taking on equivalent roles at other companies without first proving they weren’t responsible for the prior failure.

The law, on the books since 2002, is well-known in the industry. Some insiders call it the “no-fly list.”

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