In Citizens’ 2016 rate proposal, approved last month by the Citizens Board of Directors and awaiting approval by the Florida Office of Insurance Regulation, the insurer of last resort did not recommend any sinkhole rate increases for 2016 for most …
Below is a list of insurance-related Florida legislation passed by lawmakers in the 2015 regular session. All legislation has been approved by Governor Rick Scott and became effective as of July 1, 2015. HB1133 – Florida Agent Licensing Aligns college …
The Florida Office of Insurance Regulation (FLOIR) approved the removal of up to 80,000 personal residential policies and 1,050 commercial residential polices from Citizens Property Insurance Corp. (Citizens) by the following three companies: Heritage Property & Casualty Insurance Co. – …
Citizens Property Insurance Corporation’s Board of Governors has approved a 2016 rate package that lowers rates for nearly half of Citizens’ personal lines policyholders while responding to increased water loss claims and continued inadequate rates for its remaining policyholders along …
Florida Gov. Rick Scott has vetoed legislation that would modify Citizens Property Insurance Corp.’s depopulation program enacted to lower the state-created insurer of last resort’s policy count and reduce its exposure in the state. In his June 2 veto letter …
Living in a (semi)-tropical paradise has a price – and apparently, not even going nine years without a major hurricane strike will change that. While Florida’s property insurance market has stabilized somewhat since eight storms battered the state in 2004 …
The Florida Office of Insurance Regulation (Office) has approved the removal of up to 30,000 personal residential policies and 50 commercial residential polices from Citizens Property Insurance Corporation (Citizens) by the following two companies: Heritage Property & Casualty Insurance Co. …
Fitch Ratings has upgraded the rating on the following senior secured bonds of the Citizens Property Insurance Corp., FL, PLA/CLA to ‘AA-‘ from ‘A+’: –$1.1 billion series 2012A-1; –$200 million series 2012A-3 (SIFMA floating rate notes). The Rating Outlook is …
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 …
Fitch Ratings has assigned an ‘AA-‘ rating to the following senior secured bonds of the Citizens Property Insurance Corp., Coastal Account (formerly known as the High Risk Account): –$750 million series 2015A-1; –$250 million series 2015A-2 (SIFMA FRN). The bonds …
