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Office of Insurance Regulation Establishes Commercial Rates for Citizens

Office of Insurance Regulation Establishes Commercial Rates for Citizens

The Florida Office of Insurance Regulation has established the commercial rates for 2013 for Citizens Property Insurance Corporation.  The OIR’s action follows recent orders relating to Citizens’ personal residential product lines.

Under the OIR’s order on Citizens’ commercial rates, it approved a 9.9% average increase for condominium association policies, as compared to the 11% increased suggested by Citizens.  Commercial nonresidential policies are slated for average increases of 10%.  Likewise, the increases in Citizens’ wind-only commercial lines will see increases of about 10%.