Florida Citizens depopulation News

Florida Approves Removal of Up to 280,857 Policies From Citizens

The Florida Office of Insurance Regulation announced today that it has approved the removal of up to 279,357 personal residential policies and 1,500 commercial residential polices from Citizens Property Insurance Corporation by the following seven companies: Anchor Property & Casualty …

Florida Approves Removal of More Than 80,000 Policies from Citizens

The Florida Office of Insurance Regulation (FLOIR) approved the removal of up to 80,000 personal residential policies and 1,050 commercial residential polices from Citizens Property Insurance Corp. (Citizens) by the following three companies: Heritage Property & Casualty Insurance Co. – …

Homeowners Choice Grabs 36,000 Policies from Florida’s Citizens

Homeowners Choice Property & Casualty Insurance Co. Inc. said it has assumed 36,000 policies from Florida’s Citizens Property Insurance Corp., of which an estimated 30,000 are wind-only. The assumptions, effective Dec. 16, 2014, are based upon an approval in October …

Citizens’ Takeout Program Undergoing Changes; Says Assessments Unlikely

Faced with a rising number of consumer complaints, Florida’s state-backed property insurer has announced a series of changes to its takeout program. The news comes as the insurer said it is highly unlikely to need policyholder assessments next year. Citizens …

Florida Approves Another Round of Citizens Takeouts

The Florida Office of Insurance Regulation (OIR) has approved the removal of up to 132,441 personal residential policies and 500 commercial residential polices from Citizens Property Insurance Corp. as part of the state’s ongoing effort to move Citizens’ policies to …

Florida Approves Up to 183K Takeouts from Citizens for 2015

The Florida Office of Insurance Regulation (OIR) has approved the removal of up to 180,040 personal residential policies and 2,527 commercial residential polices from Citizens Property Insurance Corp. The OIR said these are the first take-outs approved for 2015. The …

Florida OIR Approves Removal of Up to 427,584 Policies From Citizens

The Florida Office of Insurance Regulation (OIR) announced that it has approved the removal of up to 425,357 personal residential policies and 2,227 commercial residential policies from Citizens Property Insurance Corp. by 14 companies. The OIR said Thursday this is …

Florida’s Citizens No Longer ‘Out of Control,’ Says Exec Defending Rate Cut

Its successes in reducing its insured population and securing low cost catastrophic coverage are driving the request by Florida’s state-backed property insurer for a statewide average 2.9 percent decrease on residential policies. Citizens Property Insurance Corp. officials in a public …

Florida House Nixes Shifting Citizens Policies to Surplus Lines

The Florida House has rejected a proposal that could shift homeowners away from the state-backed Citizens Property Insurance and into private surplus lines insurers. The Florida Senate last week narrowly voted for a property insurance bill that would allow homeowners …

Southern Oak to Assume Up to 10,000 Florida Citizens Policies

The Florida Office of Insurance Regulation has approved the removal of up to 10,000 multi-peril personal residential policies from Citizens Property Insurance Corp. to Southern Oak Insurance Co. This action is part of the state’s effort to reduce the number …