FedNat 10-K confirms “substantial doubt” over ability to continue operating

Beleaguered FedNat Holding Company in a 10-K filing has admitted there is “substantial doubt” over its ability to remain a going concern given Demotech’s downgrade of the carrier’s financial strength rating to ‘S’ (substantial) from ‘A’ (exceptional), its ability to secure adequate reinsurance and the continued impact of severe weather events on its operations.