The problem with the increasing exposure of Citizens over the past 2-3 years isn’t lack of available markets in the state- its the direct writers whose only market is Citizens. That is why previous efforts to depopulate haven’t exactly been successful.
I’m afraid you are mistaken. Direct writer’s (if you are referring to State Farm Agents etc) account for approximately 20% of the Citizens book of business. A solid 70% of the Citizens book is written by independents who have access to multiple options in the market. Yes there are a few open markets in Florida, places like Orlando and Jacksonville. The problem will always be capacity throughout the entire state. Efforts to depopulate Citizens over the last couple years have been suscessful. Check the numbers. BTW Tower Hill just announced today they are targeting 100k policies in Citizens for takeout in November. In a best case senario, Citizens will still provide coverage for 750k properties in Florida that no carrier will insure. You want to get ride of Citizens, its time to support a statewide wind pool for hurricane exposure.
The problem with the increasing exposure of Citizens over the past 2-3 years isn’t lack of available markets in the state- its the direct writers whose only market is Citizens. That is why previous efforts to depopulate haven’t exactly been successful.
I’m afraid you are mistaken. Direct writer’s (if you are referring to State Farm Agents etc) account for approximately 20% of the Citizens book of business. A solid 70% of the Citizens book is written by independents who have access to multiple options in the market. Yes there are a few open markets in Florida, places like Orlando and Jacksonville. The problem will always be capacity throughout the entire state. Efforts to depopulate Citizens over the last couple years have been suscessful. Check the numbers. BTW Tower Hill just announced today they are targeting 100k policies in Citizens for takeout in November. In a best case senario, Citizens will still provide coverage for 750k properties in Florida that no carrier will insure. You want to get ride of Citizens, its time to support a statewide wind pool for hurricane exposure.
Nope actually the bulk of the business is from direct writers like USAA and AAA.