Citizens Board of Governors News

Rivard Appointed Chair of Board of Governors for Florida’s Citizens Property Insurance

Florida Chief Financial Officer (CFO) Jimmy Patronis has appointed Bo Rivard as the chair of the Citizens Board of Governors, effective immediately. Rivard has served on the Citizens Property Insurance Corporation Board of Governors since April 29, 2019. He is …

Citizens Estimates $1.23B In Insured Losses from Hurricane Irma

Hurricane Irma will generate up to 70,000 claims and approximately $1.23 billion of insured losses to Citizens Property Insurance Corporation over the next 18 to 24 months, according to initial estimates presented to Citizens Board of Governors on Wednesday. Chris …

Former Florida Senator McKay Appointed to Citizens Board of Governors

Former Florida State Senator John M. McKay has been appointed to the Citizens Property Insurance Corporation Board of Governors by Chief Financial Officer Jimmy Patronis, according to an announcement from the Florida Department of Financial Services. McKay succeeds former board …

Top Florida Stories of 2016: The AOB ‘Insurance Crisis’

Assignment of benefits abuse has become such a well-known problem in the state of Florida this year that it now just goes by the nickname “AOB.” The issue with AOB comes from when a policyholder suffers a loss, such as …

Florida’s Citizens to Lawmakers: AOB Reform Must be Passed in 2017

Florida lawmakers can expect substantial pressure to tackle the assignment of benefits (AOB) and water loss claims crisis from the state’s insurer of last resort when Florida’s legislative session begins early next year. At a governing board meeting Wednesday, leaders …

Citizens Approves Policy Language Changes to Tackle Water Loss Issue

Citizens Property Insurance Corporation’s Board of Governors on Wednesday approved a slate of policy changes to bolster oversight of water loss claims while continuing to protect policyholders who need immediate emergency repair to water loss claims, according to a statement …

Citizens’ CEO Updates Board on ‘Critical’ Water Loss Issue, Depopulation Program

Citizens Property Insurance Corporation’s top executive warned the company’s Board of Governors Wednesday that water loss claims will continue to hamper efforts to reduce rates for many Florida policyholders. “In claims the critical issue that has surfaced in the past …

Citizens Approves Rate Changes for Florida Insureds

Citizens Property Insurance Corporation’s Board of Governors has approved a 2016 rate package that lowers rates for nearly half of Citizens’ personal lines policyholders while responding to increased water loss claims and continued inadequate rates for its remaining policyholders along …