The Florida Office of Insurance Regulation (FLOIR) issued an order on September 17 establishing the 2016 commercial lines rates for Citizens Property Insurance Corp. The overall estimated statewide average rate changes are shown in the chart. The effective date for both new and renewal rates within the Commercial Lines and Coastal Accounts is February 1, 2016.
Citizens is required by Florida law to file rate recommendations with FLOIR, which then establishes the rates for Citizens by final order. FLOIR previously issued an order for Citizens multi-peril and coastal homeowners that reflects an overall statewide decrease of 1.8 percent for multiperil policyholders across the state.
Was this article valuable?
Here are more articles you may enjoy.
Zurich Insurance and Beazley Agree to $10.9B Cash Acquisition 
Florida Appeals Court Pulls the Plug on Physician Dispensing in Workers’ Comp 
‘Meaningful Decline’ in Industry Q1 Underwriting Profit Expected From Winter Storms 
Hackers Used AI to Breach 600 Firewalls in Weeks, Amazon Says From This Issue
