DFS Rating Agency Alternatives Study Survey Question Title * 1. Are you a Demotech rated company? If No, please complete Question 2 and respond to applicable questions based on your previous rating experience with Demotech. Yes No Question Title * 2. Did you receive a letter from Demotech after June 1, 2022, suggesting that your company might be downgraded? Yes No Question Title * 3. Are you rated by a different rating agency or more than one rating agency? Yes No If Yes, which rating agency(ies)? Question Title * 4. How long have you been a Demotech rated company? Number of years Question Title * 5. What is your satisfaction level with Demotech? Highly Satisfied Mostly Satisfied Satisfied Somewhat satisfied Not satisfied Question Title * 6. What are the primary benefits for you to use Demotech as a rating agency over other rating agency options? Select all that apply. Cost Ease of dealing with Less rigorous than other agencies Flexibility Higher reputation than other rating agencies Supportive of Florida Domestics Demotech understands the Florida market Other (please specify) Question Title * 7. Are there any downsides to using Demotech? Select all that apply. Not as well-known as the larger national rating agencies Demotech is too subjective Demotech is not flexible Demotech costs are out of line Demotech staff is not as knowledgeable as that of other rating agencies Demotech does not rate larger insurers Demotech does too much public posturing in support of its interests Demotech communications are unpredictable and disruptive No downside to using Demotech Question Title * 8. What would you suggest Demotech do differently or is there anything you would change? Select all that apply. Provide more time for insurer feedback Listen more to an insurer’s business plan Give more weight to legislative changes Weigh some rating factors more Weigh some rating factors less No suggested changes to Demotech Other (please specify) Question Title * 9. If you received a letter, did the letter seem final? Yes No Question Title * 10. If you received a letter, did it seem that you were going to have another opportunity to address concerns prior to being downgraded? Yes No Question Title * 11. Did you face any issues obtaining reinsurance for the 2022 hurricane season? Select all that apply. Cost Unreasonable terms Limited availability Not available Other (please specify) Question Title * 12. Do you have concerns with Hurricanes Ian and Nicole and whether you will be able to pay all your claims? Yes No Question Title * 13. Do you think you will experience significant adverse loss development over an extended period of time with Hurricane Ian or Nicole? Yes No Question Title * 14. Do you think that the legislation passed in the 2022 Regular Session and in the Special Session in May will benefit your company? Select all that apply. Highly Benefit Mostly Benefit Benefit in some way Not Benefit The legislation was inconsequential and more should have been done Question Title * 15. What ideas do you have for future legislation in Florida? Select all that apply. Expand state programs like Citizens and the FHCF Reform laws regarding litigating insurer claims The state should subsidize insurers in some way Florida should create a state rating agency as an option to Demotech Other (please specify) Question Title * 16. Do you have any other ideas for potential legislative changes that would help solve the current insurance crisis in Florida? Yes No If yes, please provide comments here: Question Title * 17. What do think about the Florida Department of Financial Services Study to identify an alternative to Demotech? Do you have any ideas or suggestions? Yes No If yes, please provide comments here: Question Title * 18. What do you think about a State or public rating agency? Select all that apply. This is a good idea This is a bad idea I think the current rating agencies are satisfactory and nothing needs to be done I am unhappy with the current rating agency options and other alternatives should be considered I’m concerned if Demotech is replaced, what we end up with will be worse Question Title * 19. Do you have a potential solution to the “rating agency problem” for Florida insurers? Yes No If yes, please provide comments here: Question Title * 20. Please elaborate on any response above and reference the Question number. Your comments and suggestions are appreciated. Note: Individual company names will not be identified in the results of this survey. Question Title * 21. Other Comments: Done