Category: Citizens Property Insurance Corporation

  At a meeting of the Citizens Property Insurance Corporation (“Citizens”) Depopulation Committee today, December 13, 2012, Citizens’ Chief Financial Officer Sharon Binnun said that the insurer will postpone action on its proposed Surplus Notes Depopulation Program, which would dedicate …

  Citizens Property Insurance Corporation’s (“Citizens”) Market Accountability Advisory Committee (“Committee”), which met this morning, December 13, 2012, discussed postponing the offering of a statutory basic personal residential product until further notice.  Pursuant to HB 1101 enacted in 2012, Citizens …

  The Florida Office of Insurance Regulation (“OIR”) announced today, November 29, 2012, that it has approved up to 65,990 policies to be removed from Citizens Property Insurance Corporation (“Citizens”) by five Florida domestic insurance companies beginning January 8, 2013.  …

  Citizens Property Insurance Corporation (“Citizens”) will continue refusing to insure mobile home screened-in enclosures if its Board of Governors (“Board”) takes the advice of the Actuarial and Underwriting Committee (“Committee”), which met yesterday, November 28, 2012. To view the …

  At a workshop today, November 27, 2012, Citizens Property Insurance Corporation (“Citizens”) CEO Barry Gilway and Board of Governors (“Board”) Chairman Carlos Lacasa denounced the media, saying recent negative news coverage of Citizens’ staff changes, personnel matters and company …

  During a Citizens Property Insurance Corporation (“Citizens”) Claims Committee (“Committee”) meeting yesterday, November 26, 2012, numerous updates were given on claims related to water loss, sinkholes, and storms as reported for the Third Quarter of the fiscal year. To …

  In a letter to Citizens Property Insurance Corporation (“Citizens”) President and CEO Barry Gilway sent today, November 20, 2012, Citizens Board of Governors (“Board”) Chairman Carlos Lacasa emphasized the need to restore public confidence in the State-run insurer as …

  Citizens Property Insurance Corporation’s (“Citizens”) Office of Corporate Integrity (“OCI”) was disbanded in mid-October 2012 after an internal review revealed that department’s internal practices that were “more reactive than proactive,” with its employees focused mostly on workplace complaints and …

  The Florida Supreme Court ruled today, November 15, 2012, that a trial court must decide whether Citizens Property Insurance Corporation (“Citizens”) is immune from a bad faith lawsuit.  Citizens is considered a state entity under Florida law, and therefore …

  Florida’s Citizens Property Insurance Corporation has advised that insurers interested in participating in its upcoming February 12, 2013 policy assumption must submit a formal filing to the Florida Office of Insurance Regulation (“OIR”) by November 29, 2012. The OIR …