I completely agree, Citizens should not be subject to litigation, they should be able to raise their rates as needed and only write policies with ACV roof coverage.
Their rates are not actuarially sound and with a 36% reinsurance purchase, they are in a position to leave policyholders and the state in a very difficult situation if a major cat were to occur.
As the insurer of ‘last resort’, the policyholders choosing them for price should have a limited expectation of coverage and service.
I completely agree, Citizens should not be subject to litigation, they should be able to raise their rates as needed and only write policies with ACV roof coverage.
Their rates are not actuarially sound and with a 36% reinsurance purchase, they are in a position to leave policyholders and the state in a very difficult situation if a major cat were to occur.
As the insurer of ‘last resort’, the policyholders choosing them for price should have a limited expectation of coverage and service.
Perhaps Citizens should really first invest in their IT Dept as they have been having system issues for a week now. What a disaster….