Citizens Property Insurance Corp.’s Board of Governors approved a $3.9 billion risk transfer package for the 2015 hurricane season that completely eliminates the potential assessment risk on Florida policyholders in the event of a 1-in-100 year storm. By unanimous vote …
Florida’s state-backed property insurer announced that it has reduced the size of any possible emergency assessments on policyholders due to its depopulation efforts and by transferring part of its risk to private capital markets. Citizens Property Insurance Corp. said that …
Florida lawmakers have approved a bill that reduces the assessment rate of the state-run property insurer to give policyholders more time to retire deficits. The bill would also reduce the financial pressure on the insurer, which would no longer have …
