Officials of Florida’s policyholder-back insurer have decided not to pursue a plan to loan private insurers part of its surplus in exchange for removing policies citing the fact that as currently envisioned no insurers would step forward and participate in …
Florida regulators are working on a report that is expected to layout the financial status, claims handling and other administrative workings of the state’s 1.4 million policyholder-backed property insurer. Florida Insurance Commissioner Kevin McCarty, in response to an inquiry by …
Officials at the Citizens Property Insurance Corp. say nearly 150,000 of its policyholders were assumed by five smaller insurers in October as the state-backed Citizens’ continues to shed policies in its downsizing efforts. Another 25,000 Citizens’ policy holders rejected the …
Florida regulators announced that two property insurance companies have been approved to take out up to 100,000 policies from the state-backed insurer in December, adding to the 210,000 policies already slated for removal in November. State regulators also approved the …
It’s been years since a major hurricane has hit Florida, and the good news for Floridians is that property insurers are filing applications to write policies in the state again. But there’s a plan being hatched by the board of …
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 …
