The board of governors for Florida’s state-created Citizens Property Insurance Corp. voted unanimously Wednesday to raise personal lines rates by an average of 14% statewide – near the maximum allowed under the insurer’s glide path – starting next year. The …
A retired south Florida fire captain has been arrested for insurance fraud, charged with vastly overstating the number of nights he was forced to stay in a resort hotel while his home was under repair. Florida’s chief financial officer said …
Starting July 1, Florida insurance agents must have at least three appointments with authorized carriers before they can sell policies for the state-created Citizens Property Insurance Corp. That’s the mandate laid down by Florida House Bill 1503, signed into law …
The CEO of Citizens Property Insurance Corp. has denied that corporation representatives have been unresponsive to Congressional requests for financial information, in the wake of unsettling comments from Gov. Ron DeSantis that Citizens is “not solvent.” “We believe we fully …
Florida’s Insurance Commissioner last week approved another round of takeouts from the state-created Citizens Property Insurance Corp., with an assumption dates in May. That brings the total takeouts with 2024 assumptions to more than 354,134, the Office of Insurance Regulation …
A move to revamp the state-backed property insurer of last resort into Florida’s main wind carrier, a plan dubbed “Citizens 2.0,” appears to have died in the Legislature this year. But other insurance-related bills are still alive, and the governor’s …
The Florida Office of Insurance Regulation next week will hold hearings on two property insurers’ requests for 54% average rate increases, one of which has already affected more than 105,000 condominium unit owners. Castle Key Indemnity Co., one of Allstate …
A key Florida Senate committee this week advanced a bill that would allow surplus lines carriers to take over coverage of second homes from Citizens Property Insurance Corp. Reaction by agents and brokers was mixed. The issue of having the …
When a Florida Senate committee last week approved a bill that would raise the policy limit on homes that can be written by the state-backed Citizens Property Insurance Corp., state Sen. Doug Broxson said the change was needed because of …
The Florida Senate’s Banking and Insurance Committee on Tuesday approved a bill that would make the state-backed Citizens Property Insurance Corp. more like an insurer of last resort, unrestricted by premium caps – at least for some expensive homes in …
