Citizens Property Insurance aims to be more consumer-friendly in shedding policies
OIR, Insurance Regulation News, Citizens Property Insurance Corporation, Insurance Regulation
News & Updates
Citizens Property Insurance Corporation
Consumer Advocate Identifies AOB Issue as a Property Insurance Priority
Insurance Consumer Advocate Sha’Ron James recently told the House of Representatives’ Banking & Insurance Subcommittee that the assignment of benefits issue is a priority for her office in the 2016 legislative session due to the adverse impact it is having on consumers. While she indicated that her office is still evaluating the issue and is […]
Citizens’ commercial rate hikes lower than requested
Insurance Regulation News, Citizens Property Insurance Corporation, property insurance, OIR, Insurance Regulation
Petrelli and Romano Receive FAIR Founder’s Award
The Florida Association for Insurance Reform (FAIR) presented its Founder’s Award to Joe Petrelli and Sharon Romano of Demotech, Inc. FAIR is a non-profit educational organization that educates consumers and industry stakeholders about issues involving insurance public policy. The 2015 FAIR awards banquet provided an opportunity to reflect on the history of the Florida insurance […]
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. […]
Water Damage Claims Drive Rate Increases
Citizens Property Insurance Corporation recently received approval of its 2016 rates, which will go into effect February 1, 2016. The rates as approved by the Florida Office of Insurance Regulation are similar in the aggregate to those filed by Citizens, although the OIR made some adjustments in approving the final rates. The statewide average rate […]
Citizens insurance policies eyed for private market in Florida
Insurance Regulation News, Citizens Property Insurance Corporation
Citizens rates rising in South Florida; water claims blamed
supplemental flood insurance, property insurance, Insurance Regulation News, Citizens Property Insurance Corporation, Insurance Regulation
Omnibus Bill (HB 165) Signed Into Law
In the 2015 session, House Bill 165 became the vehicle that carried a variety of changes to the Florida Insurance Code. The bill passed both chambers of the legislature and now has been signed into law. Key provisions of the bill take effect July 1. Among its provisions, the new law: Eliminates the requirement for insurers […]
Supreme Court Confirms Citizens Bad Faith Immunity
The Florida Supreme Court has concluded that Citizens Property Insurance Corporation is not liable under section 624.155 for statutory first-party bad faith actions. The court in Citizens Property Insurance Corporation v. Perdido Sun Condominium Association, Case No. SC14-185, reasoned that the Florida legislature gave Citizens broad immunity from legal actions, with limited exceptions. Statutory bad […]