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Citizens Property Insurance Corporation hosted a depopulation summit last week in Tampa. The event has been widely discussed in the media and other forums. These summaries typically provide a broad overview of the discussion, often concentrating on the public policy considerations that go along with decisions about the extent to which property insurance prices should […]
Citizens Property Insurance Corporation is hosting a depopulation summit today in Tampa. The session will begin with a discussion of the recent survey Citizens conducted to determine insurers’ thoughts on removing policies. Topics to be discussed in this area include the ability of insurers to charge adequate rates, the availability and cost of reinsurance for […]
Citizens Property Insurance Corporation is hosting a forum on June 1, 2012, in Tampa to discuss proposals for depopulation. Accordingly to a recently published agenda, the meeting will concentrate on barriers to depopulation and potential solutions. This will include the adequacy (or lack thereof) of Citizens’ rates as well as issues pertaining to data quality. […]
A proposal to allow surplus lines insurers to remove policies from Citizens Property Insurance Corporation failed in the waning days of the session. Lawmakers considered ways of reducing the size of Citizens, and one proposal that emerged was to allow surplus lines insurers to assume policies from Citizens using a process similar to that used […]
Citizens Property Insurance Corporation recently sent a survey to companies authorized to write property insurance in Florida seeking their input regarding impediments to depopulation. Citizens’ policy count has increased dramatically in recent months, and interest in so-called take-out has been limited. The reconstituted depopulation committee of Citizens met last week to consider the results. The […]
Both chambers of the Florida legislature are advancing bills that would surplus lines insurers to remove policies from Citizens Property Insurance Corporation. As Citizens’ policy count continues to skyrocket, the legislature is looking for opportunities to attract insurers that might be interested in its policies. Opponents of the bill have questioned whethere it contains enough protections for […]
Over the course of many years, there has been no shortage of discussion in Tallahassee about the status and role of Citizens Property Insurance Corporation (and its predecessors). Raise its rates or cap them? Promote depopulation or getting rid of it, or use it as a safety valve for affordable coverage? After several years of […]
Citizens Property Insurance Corporation Jim Malone created a buzz today when he suggested that Citizens’ risks should be privatized in some manner. Malone lamented that Citizens continues to grow as its rate levels remain subject to a glide path cap while the private market’s rate increase due to cost drivers in the market. So, can […]
Insurers seeking to assume policies from Citizens Property Insurance Corporation understand the need to periodically obtain the most recent data from Citizens regarding its in-force policies. Likewise, a prospective investor group may be interested in obtaining the Citizens data to evaluate assumption opportunities and develop its business plan. Under updated procedures recently developed by Citizens, […]
