Florida’s Citizens Property Insurance Public Rate Hearing Set for August 23 in North Miami
Aug 14, 2017
Florida’s Citizens Property Insurance Corporation (“Citizens”) has requested statewide average rate changes for its business in the Coastal Account (“CA”), Commercial Lines Account (“CLA”), and Personal Lines Account (“PLA”).
The proposed rates were approved by Citizens’ Board of Governors on June 20, 2017. To access Citizens’ comprehensive explanation of the 2018 recommended rates, click here.
These accounts include, but are not limited to: commercial property, homeowners, mobile homeowners, and dwelling/fire.
A public hearing has been scheduled for August 23, 2017 at 4 p.m. (ET) to review the rate filings. Time for public comment will be provided and additional filings received prior to the hearing may also be discussed.
To view the hearing notice, click here.
The hearing will take place at the Florida International University Kovens Conference Center in North Miami.
The list below identifies Citizens’ proposed rate changes that have already been filed with the Florida Office of Insurance Regulation (“OIR”):
17-16826: +6.7% to Homeowners Multi-Peril (PLA)
17-16827: +1.7% to Homeowners Wind Only (CA)
17-16966: +5.2% to Property/Personal (Dwelling Fire) (PLA)
17-16967: +6.3% to Property/Personal (Dwelling Fire) Wind Only (CA)
17-17210: +3.9% to Mobile Homeowners Multi-Peril (PLA)
17-17211: +9.8% to Mobile Homeowners Wind Only(CA)
17-17409: +7.1% to Mobile Homeowners (Dwelling Fire) (PLA)
17-17410: +10.0% to Mobile Homeowners (Dwelling Fire) (CA)
The OIR specified in its Notice that there are no proposed rate changes for Citizens’ sinkhole coverage.
The effective date for the Coastal Account, Commercial Lines Account, and Personal Lines Account is February 1, 2018 for new and renewal business.
The record will be open for public comment until August 31, 2017 for all filings.
Should you have any questions or comments, please contact Colodny Fass.
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