Florida is investigating an insurance organization.

State Insurance Commissioner Bill Gunter asked the Miami-based Insurance Exchange of the Americas--one of three operating in this country in the manner of Lloyd's of London--to stop writing new policies while investigators look into the organization's finances for possible fraud and mismanagement. A state court authorized Gunter to take control of one of the exchange's 23 underwriting syndicates that had been declared insolvent. In response, the exchange ordered its syndicates to suspend underwriting and placed the finances of three ailing syndicates under its control.

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