News & Updates

Citizens Property Insurance Corporation

Lack of AOB Reform Likely to Put Pressure on Rates and Availability

Lack of AOB Reform Likely to Put Pressure on Rates and Availability

After only limited committee discussions during the 2017 session, the Florida legislature failed to adopt reforms to this state’s “assignment of benefits” problem.  The Florida Office of Insurance Regulation and Citizens Property Insurance Corporation offered substantial testimony before the legislature regarding the nature of the problem, steps the legislature could take to fix the problem, […]

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Key Insurance Issues Remain Unresolved as Session Progresses

Key Insurance Issues Remain Unresolved as Session Progresses

As the Florida legislature enters the final few weeks of the 2017 regular session, several important insurance issues remain unresolved.  One of the most prominent insurance issues in need of a legislative solution is the “assignment of benefits” issue.  Insurance Commissioner David Altmaier, Citizens Property Insurance Corporation chief executive officer Barry Gilway, and a number […]

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OIR Names Deputy Commissioners

OIR Names Deputy Commissioners

The Florida Office of Insurance Regulation has announced new deputy commissioners for property and casualty insurance and for life and health insurance.  The OIR has named Susanne Murphy as the deputy commissioner for property and casualty insurance.  Ms. Murphy has substantial experience in insurance regulation, as well as with Florida’s residual property insurance market Citizens […]

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Citizens Updates Assumption Process

Citizens Updates Assumption Process

Citizens Property Insurance Corporation is changing the depopulation process for personal lines assumptions taking place on and after February 21, 2017. The changes are intended to increase policyholder choice and bring greater efficiency to the process for policyholders, agents, takeout companies and Citizens. The new process is based, in part, changes required by HB 931, which passed […]

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Familiar Issues Expected to Surface Early in 2017

Familiar Issues Expected to Surface Early in 2017

As we begin 2017, we can expect some of the high profile issues addressed early in the year to be continuations of issues that gathered significant attention in 2016.  One of the hottest topics early in the year is likely to be the state of Florida’s workers’ compensation insurance market.  Beginning with reforms made in […]

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New Year Brings Lower Coverage Limits in Citizens

New Year Brings Lower Coverage Limits in Citizens

The maximum personal residential coverage limits available from Citizens Property Insurance Corporation decreased as of January 1, 2017, in accordance with a law passed in 2013 providing for a gradual step-down in the limits.  Effective January 1, the following risks are no longer eligible as new business or renewals: A structure that has a dwelling replacement […]

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