Florida Citizens Property Insurance Corp. (CPIC) News

Florida Agents March on State Capitol in Lawmaker Push to Reform AOB

Insurance agents from across Florida marched together on the state’s capitol Wednesday to deliver a message to Florida lawmakers: It’s time for assignment of benefits (AOB) reform. Carrying signs that read “STOP AOB ABUSE,” about 125 members of the Florida …

Citizens Seeks Florida Agents’ Help Fighting Water Claims Abuse

As the Florida property market fights what has so far been a losing battle against attorneys and unlicensed contractor firms over water loss claims and assignment of benefits (AOB), Citizens Property Insurance Corp., Florida’s property insurer of last resort, has …

Florida’s Citizens Rolls Out New Website for Agents, Insureds

Citizens Property Insurance Corp. has launched a new website for customers, agents and other stakeholders that, according to the company, offers a more comprehensive gateway into the state’s insurer of last resort. Launched Feb. 1, the new site provides a …

Florida Approves 66,500 Policies from Citizens for April Take-Outs

The Florida Office of Insurance Regulation (OIR) has approved the removal of up to 65,000 personal residential policies and 1,500 commercial residential polices from Citizens Property Insurance Corp. The following two companies have been approved to participate: Anchor Property & …

Florida Approves the Removal of Up To 142,500 Policies from Citizens

The Florida Office of Insurance Regulation has approved the removal of up to 140,000 personal residential policies and 2,500 commercial residential polices from Citizens Property Insurance Corp. by the following four companies: Anchor Property & Casualty Insurance Co. – approved …

Citizens Approves Rate Changes for Florida Insureds

Citizens Property Insurance Corporation’s Board of Governors has approved a 2016 rate package that lowers rates for nearly half of Citizens’ personal lines policyholders while responding to increased water loss claims and continued inadequate rates for its remaining policyholders along …

Price Declines Slow on June U.S. Reinsurance Renewals: Guy Carpenter

After two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June renewals. Reinsurance broker Guy Carpenter & Co. reported that the price declines are averaging in the high single …