Citizens Depopulation Summit Takes Place Today
Citizens Property Insurance Corporation is hosting a depopulation summit today in Tampa. The session will begin with a discussion of the recent survey Citizens conducted to determine insurers’ thoughts on removing policies. Topics to be discussed in this area include the ability of insurers to charge adequate rates, the availability and cost of reinsurance for assumed business, the quality of Citizens’ data, the selection process, and the loss ratios of assumption books. This will lead to a group discussion of barriers to depopulation and potential solutions.
The session will include efforts to gather ideas on how to facilitate the removal of policies from Citizens. This process hopefully will lead to recommendations the Citizens board can implement on its own as well as ideas that might require legislative action.