Citizens Property Insurance Corp. (Citizens) News

Florida Regulator Urges Insurers to Respond Quickly After Michael, Says 500K Insureds At Risk

Fast-moving Hurricane Michael is expected to be a significant storm for the Florida Gulf Coast, and the state’s top insurance regulator says the insurance industry is ready to respond to whatever destruction it may bring. “Through Hermine, Matthew and Irma …

Florida Disaster Fraud Team Makes Arrest Over $30K in Fraudulent Irma Claims

A Palmetto Bay, Fla., man was arrested last month for allegedly defrauding Citizens Property Insurance Corp. of more than $30,000 relating to Hurricane Irma, according to a statement from Florida Chief Financial Officer. Carlos Guillermo Aponte, 44, of Palmetto Bay …

Florida’s Citizens Reopens More Than 25K Hurricane Irma Claims

Citizens Property Insurance Corp. says it has reopened about 37 percent of its Hurricane Irma claims, according to a statement from the Florida insurer of last resort. The insurer says the reopening of claims is part of ongoing efforts to …

Florida’s Citizens Approves Changes to Managed Repair Program to Stem AOB Abuse

Citizens Property Insurance Corp. has approved a slate of policy language changes designed to protect consumers while addressing rising costs of nonweather water loss claims and related litigation that continue to drive premiums higher, according to a statement from the …

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, …