Citizens Property Insurance Corp. News

Hasner, Knight, Telemaco Join Board of Citizens Property Insurance

Governor Ron DeSantis has appointed three new members to the board of governors of Citizens Property Insurance Corp., his office said in a statement. Jillian Hasner of Boca Raton currently serves as president and chief executive officer of Take Stock …

Florida’s Citizens Ends Moratorium on Cancellations, Nonrenewals

After extending the moratorium on cancellations and nonrenewals put into place at the start of the pandemic, Citizens Property Insurance Corp. has announced it will resume processing these as of Feb. 1, 2021. The Florida insurer of last resort said …

Florida Market Stabilization Critical to Reducing Citizens’ Exposure: Study

Florida’s fluctuating and volatile private market may be instigating long-term policy growth for Citizens Property Insurance Corp. and creating serious obstacles to its position as the state’s residual insurer, according to a new study. The 236-page “Exposure Reduction and Depopulation …

Citizens to Delay Rate Increases, For Now

Citing a flood of new policies entering Citizens Property Insurance Corp. and a growing disparity between its rates and rising rates of private insurance companies, the board of Florida’s insurer of last resort voted unanimously to postpone final action on …

Florida’s Citizens to Resume Policy Cancellations, Nonrenewals Next Month

Citizens Property Insurance Corp., Florida’s insurer of last resort, will resume processing cancellations and nonrenewal notices next month after halting them back in March in response to the state’s coronavirus outbreak. The insurer said in an agent bulletin July 9 …

Florida’s Citizens Accuses Embattled Law Firm, Others of Sham Lawsuits, Racketeering

Florida’s state-run Citizens Property Insurance Corp. has joined a chorus of insurance companies accusing the Strems Law Firm of lawsuit abuse. Citizens says it has lost millions of dollars due to an alleged scheme of “sham” claims by the law …

Citizens CEO Notes Impact of AOB Reforms as New Rates to Take Effect in Florida

The head of Citizens Property Insurance Corp. says it is already seeing a difference in assignment of benefits (AOB) litigation since reforms passed by the Florida Legislature took effect in July. Meanwhile, many Citizens policyholders may see premium relief from …

Florida Regulator Approves Post-AOB Reform Rates for Citizens Policyholders

Florida’s insurance regulator has established 2019 rates for Citizens Property Insurance Corp. after the insurer resubmitted its rate filing as part of a requirement of the new assignment of benefits law that adjustments be made to proposed policyholder rates this …

Florida’s Citizens Revises 2019 Rate Filing; Will Request 2.3% Statewide Rate Increase

Citizens Property Insurance Corporation’s Board of Governors has approved a revised 2019 rate proposal that the company said reflects recent legislative changes that targets the ongoing abuse of assignment of benefit agreements and will reduce unnecessary litigation responsible for driving …

Rivard Appointed to Citizens Board of Governors

Florida’s insurer of last resort, Citizens Property Insurance Corp., has a new board member. Florida CFO Jimmy Patronis has appointed Bo Rivard insurer’s Board of Governors, effective immediately. His term expires on July 31, 2020. Rivard succeeds John McKay, a …