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 …
Florida’s state-backed property insurer is seeking a statewide average 6.6 percent increase in homeowners’ rates and a 24.8 percent increase in sinkhole rates while citing reduced losses and an improved financial position. Citizens Property Insurance Corp., which insurers 1.2 million …
Florida residents who have sinkhole insurance through the state-backed property insurer will not have to pay a proposed statewide average 447 percent increase. Citizens Property Insurance Corp. customers will also be spared big price hikes for standard coverages under several …
While state officials are trying to digest Citizens Property Insurance Corp.’s proposed triple-digit sinkhole rate increase, other elected officials are taking their case to the public. Senator Mike Fasano, R-New Port Richey, whose district has one of the highest sinkhole …
