Citizens Property Insurance Corp. (Citizens) News

Florida’s Citizens Expects Policy Count Increase in 2018, Plans Claims System Upgrade

Citizens Property Insurance Corp., the Florida state-run insurer of last resort, is anticipating its policyholder count will increase in 2018 for the first time since its efforts to shed policies through depopulation began several years ago. As it moves on …

Florida Approves 6.6% Statewide Homeowners Rate Increase for Citizens

The Florida Office of Insurance Regulation (OIR) has approved statewide rate increases on 2018 personal and commercial property insurance rates for Citizens Property Insurance Corp. OIR approved a statewide increase of 6.6 percent for homeowners multi-peril policies, but held rates …

Update: Insurance Industry Preparation for Hurricane Irma in Full Swing in Florida

Insurers are taking no chances in preparing for Hurricane Irma as the powerful category 5 storm slogs its way through the Caribbean, devastating the communities left in its wake on its potential path towards the U.S. Insurers made a full …

Florida Insurers Place All Options on Table to Address AOB Abuse

Florida’s home insurers hope the public doesn’t blame them as they implement rate increases, initiate coverage changes and nonrenew policies. They say they have no choice after the Florida Legislature for the fifth year in a row failed to address …

Opinion: The Insurance Industry’s Image Problem & How They Can Fix It

The insurance industry has an image problem. That is probably not really breaking news to anyone reading this, but it’s an important topic to discuss and one the industry can address and, believe it or not, an issue that can …

Florida Approves September, October Take-Outs of More Than 40K Citizens Policies

The Florida Office of Insurance Regulation (OIR) has approved a total of 40,650 personal lines, commercial lines, and coastal account policies from the following companies to participate in the September and October Citizens Property Insurance Corporation take-out periods. September 20, …

Deadline Looms for Citizens Appointment Agreements Addressing Data Security

Appointed agents and agencies of Florida’s Citizens Property Insurance Corp. have just two weeks left to sign new appointment agreements or have their contract with the state-run insurer terminated. Agreements designed to ensure all of Citizens’ appointed agents and agencies …

Citizens Board Approves $2.46B Risk Transfer Program for 2016 Hurricane Season

Florida’s Citizens Property Insurance Corporation’s Board of Governors has approved a $2.46 billion risk transfer program as the state heads into the 2016 hurricane season, the insurer said in a statement. By unanimous vote, Citizens Board approved a package that …

Florida’s Citizens Policy Count Reaches Lowest Level on Record

Florida’s Citizens Property Insurance Corporation announced Jan. 20 that it has reduced its policy count to under 500,000. The company said in a statement that its policy count on Jan. 19 was 484,788, the lowest level recorded since Citizens was …

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 …