Winds of change in lawmaker’s hurricane-related proposal
2024 Legislative Session, HB 1213, hurricane coverage, Florida property insurers, wind-only, Insurance Regulation News, Florida Legislature, Citizens Property Insurance Corporation
News & Updates
wind-only
Office of Insurance Regulation Establishes Commercial Rates for Citizens
The Florida Office of Insurance Regulation has established the commercial rates for 2013 for Citizens Property Insurance Corporation. The OIR’s action follows recent orders relating to Citizens’ personal residential product lines. Under the OIR’s order on Citizens’ commercial rates, it approved a 9.9% average increase for condominium association policies, as compared to the 11% increased […]
Citizens Eyeing Builders Risk
Citizens Property Insurance Corporation will take a look at the merits of writing builders risk insurance certain coastal areas. However, advisors recommend that if Citizens resumes writing business risk, it should do so only where the coverage is unavailable from the private market “at any price.” As a competing consideration, Citizens recognizes that if it is the only market for […]