OIR Sets Citizens Commercial Rates
The Florida Office of Insurance Regulation (Office) has issued an order establishing the 2016 commercial lines rates for Citizens Property Insurance Corporation (Citizens). The overall estimated statewide average rate changes are shown in the chart below. The effective date for both new and renewal rates within the Commercial Lines and Coastal Accounts is February 1, 2016.
| (Incl. FHCF Cash Buildup Factor Changes) | ||
| Account | Original Rate Requested | Estimated Rate Established* |
| Commercial Property Residential Multi-Peril (Ex. Condo Assn.) Commercial Lines Account #15-17008 | 5.2% increase | 3.0% increase |
| Commercial Property Residential Multi-Peril (Condo Assn.) Commercial Lines Account
#15-17009 |
5.0% increase | 3.0% increase |
| Commercial Property Non-Residential Multi-Peril
Commercial Lines Account #15-17471 |
9.3% increase | 9.1% increase |
| Commercial Property Residential Wind Only (Ex. Condo Assn.) Coastal Account #15-18444 | 10.3% increase | 9.5% increase |
| Commercial Property Residential Wind Only (Condo Assn.)
Coastal Account #15-18446 |
10.4% increase | 9.5% increase |
| Commercial Property Non-Residential Wind Only
Coastal Account #15-18900 |
10.0% increase | 10.0% increase |