News & Updates

Citizens Property Insurance Corporation

Citizens Heading Toward 1 Million Policies

Citizens Heading Toward 1 Million Policies

Citizens Property Insurance Corporation’s president Barry Gilway recently projected the organization’s policy count could reach between 1 million and 1.3 million policies in 2022.  Its policy count has been increasing steadily since late last year as adverse market conditions have eroded capital and reduced insurers’ willingness to write policies in several areas of the state. […]

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Made in America Tax Plan Causes Concerns in Florida

Made in America Tax Plan Causes Concerns in Florida

The “Made in America” tax plan is drawing considerable opposition from observers familiar with Florida’s property insurance market.  Its provisions labeled Stopping Harmful Inversions and Ending Low-tax Developments (SHIELD) are intended to close loopholes allowing corporations to avoid taxes through multi-national business structures.  The proposal would establish a global minimum tax of 15 to 21%. […]

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Citizens Property Insurance Corporation Continues to Grow

Citizens Property Insurance Corporation Continues to Grow

Citizens Property Insurance Corporation has continued to grow at a troubling rate in recent weeks.  Its policy count topped 660,000 policies at the end of July.  This represents an increase of about 23,000 policies compared to its June total, meaning Citizens continues to add policies at a rate of more than 5,000 per week. Citizens […]

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Injunction Highlights Questions About Property Reform

Injunction Highlights Questions About Property Reform

SB 76 adopted in the 2021 legislation drew a lukewarm reaction, even among some of the lawmakers who supported property insurance reform.  One key advocate referred to the bill as accomplishing about 40% of what would be needed to improve Florida’s property insurance market. And that was before part of the law was declared unconstitutional. […]

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Property Bill Brings Uncertain Impact

Property Bill Brings Uncertain Impact

Governor Ron DeSantis signed SB 76 into law and it takes effect July 1, 2021.  The new law reflects a series of compromises reached by the Florida legislature during the 2021 session.  Despite the compromises, bill sponsors believe the reforms will have a favorable effect on Florida’s residential property insurance market.  Other legislators have been […]

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Governor Signs Property Insurance Bill

Governor Signs Property Insurance Bill

Governor Ron DeSantis has signed this year’s primary property insurance bill, SB 76, into law.  Most of the bill’s provisions take effect July 1, 2021. The legislature passed SB 76 after extended debate leading into and during the 2021 legislative session.  As is often the case during the legislative process, the final bill reflects a […]

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Questions Remain After Property Bill Passes Late in Session

Questions Remain After Property Bill Passes Late in Session

The 2021 Florida Legislature spent several months evaluating property insurance reform proposals.  The committee hearing process included testimony from Insurance Commissioner David Altmaier, Citizens Property Insurance Corporation CEO Barry Gilway and many others.  Despite these months of analysis, the primary property insurance reform bill (SB 76) was amended several times in the last week of […]

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