Citizens Reduces Blackout Window
Citizens Property Insurance Corporation is implementing a reduced blackout window for insurer assumptions. The blackout window recognizes that Citizens must process and mail nonrenewal notices in connection with the assumptions, so insurers can choose only those policies with expiration dates far enough in the future to allow proper notice.
Senate Bill 408 allows Citizens to reduce its nonrenewal notification period from 100 days to 45 days for policies assumed as part of its depopulation programs. Under the 100-day notice requirement, Citizens applied a 113-day blackout window (100 + 13 days for processing and mailing). Under the new 45-day notice provision, Citizens will be using a 58-day blackout period (45 + 14 days for processing and mailing).