Executives and the board of governors of Florida’s largest state-back property insurer received a rude reception at a public rate hearing in Miami where they indicated they will consider increasing rates on existing homeowners policies by a statewide average 7.4 …
The new president of the state-backed Citizens Property Insurance Corp. meets with the insurer’s governing board for the first time, looking for consensus on finalizing the insurer’s rate request for next year. Citizens’ governing board holds a rate workshop Monday …
The new chief of Florida’s policyholder-backed property insurer Citizens Property Insurance offered no magic bullet to depopulate the insurer, but promised the insurer will charge higher rates for less coverage in order to encourage customers to buy elsewhere. Newly-appointed Citizens …
Much of Florida Gov. Rick Scott’s tenure in office has been consumed with confronting the mistakes his predecessor made in the property insurance market. Charlie Crist left office having stuffed the two state-run entities — the Florida Hurricane Catastrophe Fund …
Facing protests from consumers and state officials, Florida’s state-run homeowners insurer has found itself defending a proposal to increase rates for new customers above a legislative cap placed on current business. Citizens Property Insurance Corp. officials floated the proposal last …
Florida’s Citizens Property Insurance Corp. has entered the catastrophic bond market in a big way by issuing $750 million in bonds, making it the largest insurance-linked security deal of its kind. Citizens Property Insurance Board Chair Carlos Lacasa declared it …
The governing board for Florida’s state-backed Citizens Property Insurance Corp. has at least temporarily backed off a proposal to begin charging rates for new business next year at rates higher than allowed by law. Although existing Citizens policyholders are protected …
Florida lawmakers have approved a bill that reduces the assessment rate of the state-run property insurer to give policyholders more time to retire deficits. The bill would also reduce the financial pressure on the insurer, which would no longer have …
Florida largest property insurer has named a state regulator and former state lawmaker as its interim president, effective March 12. Citizens Property Insurance Corp. announced yesterday that it has hired Tom Grady to take over as president and CEO, replacing …
Citizens Property Insurance Corp. President Scott Wallace has announced that he will step down as president and CEO of the corporation effective April 6. Wallace, who has served more than six years as the CEO of the company, has overseen …
