Citizens to shift up to 648,000 policies to private insurers starting next month
Citizens Property Insurance Corporation, Office of Insurance Regulation, hurricane season, Insurance Regulation News, Depopulation, Insurance Regulation
News & Updates
Depopulation
Changes to Citizens Property Insurance under new Florida law will help with depopulation efforts
Citizens Property Insurance Corporation, Florida Legislature, Insurance Regulation News, property insurance, Depopulation, Florida Office of Insurance Regulation, HB 1503, surplus lines carriers
OIR Highlights Market Improvements
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 […]
OIR approves Mainsail as newest domestic property insurer; Citizens in line to shed nearly 300,000 policies
Citizens Property Insurance Corporation, Office of Insurance Regulation, Insurance Regulation News, property insurance, Depopulation, Michael Yaworsky
Four insurers approved to take out up to 184,000 Citizens policies
Citizens Property Insurance Corporation, Office of Insurance Regulation, Insurance Regulation News, Depopulation, takeout companies
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 […]
New Law Makes Citizens Adjustments
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 plans to shed at least 130,000 more policies through 2016
Citizens Property Insurance Corporation, Insurance Regulation News, property insurance, Depopulation
2014 Saw Significant Property and Casualty Issues
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 […]
Depopulation Activity Reduces Citizens Policy Count
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 […]