Florida Citizens Property Insurance Corp. News

Florida Home Inspector Used Stock Photos 200 Times, Defrauding Citizens, DFS Says

A Florida home inspector allegedly used the same stock photographs in more than 200 home and wind-mitigation inspections, costing Citizens Property Insurance Corp. more than $88,000, the state Department of Financial Services said after the man was arrested. Jasiel Mena, …

Audit Finds Some Florida Citizens’ Policies Over Limit, Small Use of Clearinghouse

Florida’s state-created Citizens Property Insurance Corp., has a few issues it needs to address, including policies with coverage values above its statutory limit, not sending enough renewals to its Clearinghouse, and failing to beef up its computer security measures, according …

Florida Insurer Can’t Object to Appraiser After the Award Is Decided, 11th Circuit Says

If a property insurer is going to object to an appraisal panel member’s fee arrangement, it must do so early in the process – not after the panel provides an unfavorable, multimillion-dollar appraisal award. That was the word this week …

With American Mobile Cancellations, Florida Mobile Home Market Has ‘Fallen Apart’

Reinsurance in Florida’s long-stressed property insurance market was supposed to have stabilized this year – with moderate rate increases and more availability. But those calmer waters apparently have not reached the mobile home market, and Florida insurance agents are now …

Florida Citizens Board Votes to Raise Rates 14% But Litigation Costs Dropping

The board of governors for Florida’s state-created Citizens Property Insurance Corp. voted unanimously Wednesday to raise personal lines rates by an average of 14% statewide – near the maximum allowed under the insurer’s glide path – starting next year. The …

Former Florida Fire Captain Charged With Padding Living Expenses on Citizens Claim

A retired south Florida fire captain has been arrested for insurance fraud, charged with vastly overstating the number of nights he was forced to stay in a resort hotel while his home was under repair. Florida’s chief financial officer said …

Florida Agents Will Soon Need Three Appointments Before Selling Citizens

Starting July 1, Florida insurance agents must have at least three appointments with authorized carriers before they can sell policies for the state-created Citizens Property Insurance Corp. That’s the mandate laid down by Florida House Bill 1503, signed into law …

Citizens’ Cerio Pushes Back Against Senator’s Questions About Insurer’s ‘Solvency’

The CEO of Citizens Property Insurance Corp. has denied that corporation representatives have been unresponsive to Congressional requests for financial information, in the wake of unsettling comments from Gov. Ron DeSantis that Citizens is “not solvent.” “We believe we fully …

Florida OIR Approves Another 54,000 Citizens Takeouts. More Coming if Bills Pass

Florida’s insurance commissioner last week approved another round of takeouts from the state-created Citizens Property Insurance Corp., with assumption dates in May. That brings the total takeouts with 2024 assumptions to more than 354,134, the Office of Insurance Regulation reported. …

‘Citizens 2.0’ is 86’d but Other Florida Insurance, Liability Bills Still Alive

A move to revamp the state-backed property insurer of last resort into Florida’s main wind carrier, a plan dubbed “Citizens 2.0,” appears to have died in the Legislature this year. But other insurance-related bills are still alive, and the governor’s …