At its meeting this morning, May 24, 2016, Citizens Property Insurance Corporation’s (“Citizens”) Board of Governors approved a total 2016 risk transfer program of $2.464 billion for the...
Category: Citizens Property Insurance Corporation
Florida’s Citizens Property Insurance to begin educating policyholders on critical upcoming contract changes
May 10, 2016
Florida’s Citizens Property Insurance Corporation (“Citizens”) advised today, May 10, 2016, that important policy changes are coming beginning July 1 as the state-backed insurer takes steps to provide...
Enacted Today, HB 931 Mandates Revisions to Florida’s Citizens Property Insurance Takeout Program by January 1, 2017
April 14, 2016
Signed by Governor Rick Scott today, April 14, 2016, HB 931 will make several changes to law relating to Florida’s Citizens Property Insurance Corporation (“Citizens”) effective July 1, 2016. The new...
Florida’s Citizens Property Insurance Launches ‘Call Citizens First’ Campaign to Educate Customers
February 9, 2016
In a news release issued today, February 9, 2016, Florida’s Citizens Property Insurance Corporation (“Citizens”) announced the launch of a multi-faceted education campaign to improve customer claims...
Florida’s Citizens Property Insurance Analysis Shows Assignment of Benefits Increases Costs
January 21, 2016
A detailed analysis conducted by Citizens Property Insurance Corporation (“Citizens”) for state insurance regulators has concluded that water loss claims, exacerbated by assignment of benefits...
Citing the benefits of a “reinvigorated” private insurance market, affordable reinsurance and favorable weather, Florida’s Citizens Property Insurance Corporation (“Citizens”) announced...
Florida’s Citizens Property Insurance Board Mulls Downsizing, Approves Changes to Curb Water Damage Litigation ‘Tsunami’
December 10, 2015
With South Florida water damage claims generating an average of 800 litigated cases per month and similar volume expected to continue into 2016, Florida’s Citizens Property Insurance Corporation...
Florida’s Citizens Property Insurance Approves Clarified Policy Language for Water Losses
December 9, 2015
Responding to skyrocketing water damage claims-related losses–particularly in South Florida–Citizens Property Insurance Corporation’s (“Citizens'”) Board of Governors (“Board”)...
Florida Citizens Property Insurance Committee Update–December 2015
December 4, 2015
Florida’s Citizens Property Insurance Corporation (“Citizens”) began its final round of Committee meetings for 2015 leading up to its Board of Governors (“Board”) meeting scheduled for...
Florida’s Citizens Property Insurance Evaluates Operations Budget as Policy Numbers Continue to Decrease; Changes Approved to Appraisal, Second Structure Policy Language
September 30, 2015
Florida’s Citizens Property Insurance Corporation (“Citizens”) will continue to shrink as depopulation activities proceed in the months ahead, but the State-run insurer’s top executive warned...