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As the new year begins, the Florida Office of Insurance Regulation (OIR) recently took the opportunity to recap notable changes in 2023. The new year marks almost one full year in office for Commissioner Mike Yaworsky, who was nominated for the position in February 2023 and formally appointed in March. Commissioner Yaworsky recapped the year […]
Citizens Property Insurance Corporation, Office of Insurance Regulation, Insurance Regulation News, property insurance, Depopulation, Michael Yaworsky
Citizens Property Insurance Corporation, Office of Insurance Regulation, Insurance Regulation News, Depopulation, takeout companies
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 […]
House Bill 931 has been signed into law, becoming Chapter Law 2016-229. The new law makes several changes affecting Citizens Property Insurance Corporation. Among the key changes, the following take effect July 1, 2016: Citizens may appoint as agents only those agents who have and continuously maintain at least one appointment with an insurer actually […]
Citizens Property Insurance Corporation, Insurance Regulation News, property insurance, Depopulation
As 2014 comes to a close, several of the issues that commanded considerable attention during the year reached their resolution and set the framework for 2015 ahead. When we all return from the holidays, the legislative committee weeks will be upon us and the 2015 legislative session will begin before we know it. However, before […]
Citizens Property Insurance Corporation recently announced that it had 727,122 policies as of November 30, 2014. This is about half of Citizens’ policy count a few years ago when it reached a high of about 1.4 million policies. The Citizens portfolio consists predominantly of personal residential policies, although it continues to have significant commercial exposure […]
The beginning of a new year always brings with it an acceleration of Florida’s consideration of key public policy issues affecting the insurance industry. Activity in Tallahassee slows down in the second half of December, soon followed by the realization that the next legislation will be here quickly. For the property insurance industry, this means […]
As the 2013 legislative session approaches, the respective insurance committees of the Florida Senate and House of Representatives are beginning to address issues related to Citizens Property Insurance Corporation. Citizens continues to take on 8000 new policies a week, and notwithstanding substantial depopulation activity late this year its policy count will drift back up as […]
