News & Updates

Citizens Property Insurance Corporation

Citizens Coverage A Reductions Take Effect

Citizens Coverage A Reductions Take Effect

As required by a law passed in 2013, the maximum Coverage A amounts for Citizens Property Insurance Corporation’s personal residential coverage have been reduced again effective January 1, 2017.  The following new business and renewals for personal residential risks are no longer are eligible for coverage in Citizens: A structure that has a dwelling replacement […]

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2016 Brought Its Share of Novel Issues

2016 Brought Its Share of Novel Issues

As 2016 winds to a close, we can look back and see the impact this year’s events had on the Florida insurance market.  In the property and casualty sector, we saw two hurricanes affect Florida after a decade without hurricanes.  Fortunately, Hurricane Hermine remained a relatively small storm, and Hurricane Matthew stayed just offshore enough […]

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OIR Conducts Public Hearing on Citizens Rate Filings

OIR Conducts Public Hearing on Citizens Rate Filings

The Florida Office of Insurance Regulation will hold a public hearing on Citizens Property Insurance Corporation’s pending rate filings today in Tallahassee.  The hearing begins at 9:00 a.m. in the Senate Office Building. The hearings will allow the Office of Insurance Regulation to publicly discuss and receive comments on the pending filings for Citizens for […]

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Further Reduction in Citizens Coverage A Coming January 1

Further Reduction in Citizens Coverage A Coming January 1

As required by a law passed in 2013, the maximum Coverage A amounts for Citizens Property Insurance Corporation’s personal residential coverage will be reduced again effective January 1, 2017.  Effective at the beginning of net year, the following new business and renewals for personal residential risks are no longer are eligible for coverage in Citizens: A structure […]

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Water Damage Crisis Prompts Proposed Citizens Rate Increases

Water Damage Crisis Prompts Proposed Citizens Rate Increases

Continuing concerns with water damage claims issues have prompted the Board of Governors of Citizens Property Insurance Corporation to sign off on a proposed 6.8 percent statewide rate increase.  This reflects the average rate change, with some territories experiencing greater increases.  In addition, the amount that Citizens can increase any policyholder’s rates is capped by […]

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