The incoming Florida House speaker is asking the chairman of the state-backed Citizens Property Insurance Corp. to postpone a key depopulation strategy to give lawmakers a chance to review it. Speaker-designate Will Weatherford, a Republican, wrote Citizens’ board chairman Carlos …
Florida regulators have approved a 10.8 percent statewide average homeowners insurance rate increase and a 21.4 percent increase in sinkhole rates for the state-backed property insurer. Insurance Commissioner Kevin McCarty announced the new Citizens Property Insurance Corp. rates that hue …
Executives of Florida’s state-backed insurer defended a proposed statewide average 11.2 percent increase in homeowners rates as regulators, consumer advocates and other officials questioned the need for the increases, citing a projected reduction in sinkhole claims, the use of computer …
A plan by Florida’s state-backed property insurer to loan private insurers millions of dollars in surplus in exchange for removing policies has not been properly vetted and is a sweetheart deal for a few insurers, a Florida official has charged. …
Two months ago when Barry Gilway took over as president of Florida’s state-run property insurer, Citizens Property Insurance Corp., he quickly learned there would be no honeymoon period. He was thrust into debates over rates, mitigation credits, rolled-back coverage, depopulation …
Florida’s state-backed property insurer is considering for the first time whether to invest in private insurers to the tune of $350 million, with the hopes these insurers would then take up to 300,000 policies. The move is an attempt by …
Hurricane-prone Florida’s insurer of last resort, state-run Citizens Property Insurance Corp. on Friday approved a plan to provide up of $350 million in sweetened loans to private companies willing to take over policies. A state legislator denounced the plan by …
Four Florida-based property insurers have been given the green light to remove up to 150,000 policies from the state-backed Citizens Property Insurance Corp., which would contribute to the greatest shift of policies to the private market since 2008. Citizens has …
A Florida state senator is demanding that executives of the state-backed property insurer be questioned after expense reports showed that they spent thousands of dollars on travel and related expenses. Florida Senator Mike Fasano (D-New Port Richey) sent a letter …
Officials of Florida’s state policyholders-backed insurer turned away from several controversial plans that would have raised rates on new policies above current policyholder rates and implemented a cap on water damage, instead adhering to its statutory caps on rate increases. …
