Citizens puts insurance rate hike decision on hold
Jun 21, 2018
Citizens Property Insurance will delay any decision on 2019 rate increases until December, with officials saying they want to assess the impact of a new program designed to curb the cost of non-weather water claims.
The Citizens Board of Governors, meeting Wednesday in Maitland, voted unanimously to wait until a Dec. 12 meeting to consider a rate increase that would average 7.9 percent for residential policyholders across the state. Commercial policyholders, including condominium associations, would face an 8.9 percent average rate increase under the proposal.