Private Insurers in Line to Take 150,000 Policies from Florida’s Citizens
Four Florida-based property insurers have been given the green light to remove up to 150,000 policies from the state-backed Citizens Property Insurance Corp., which would contribute to the greatest...
View ArticleFlorida’s Citizens’ Plan for Loans to Private Insurers Criticized
Hurricane-prone Florida’s insurer of last resort, state-run Citizens Property Insurance Corp. on Friday approved a plan to provide up of $350 million in sweetened loans to private companies willing to...
View ArticleHow Florida’s Citizens’ Surplus Loans to Private Insurers Would Work
Florida’s state-backed property insurer is considering for the first time whether to invest in private insurers to the tune of $350 million, with the hopes these insurers would then take up to 300,000...
View ArticleQ&A with Florida’s Citizens CEO Gilway: Leading in the Public Sector
Two months ago when Barry Gilway took over as president of Florida’s state-run property insurer, Citizens Property Insurance Corp., he quickly learned there would be no honeymoon period. He was thrust...
View ArticleFlorida Rep. Hits Citizens for ‘Rushing’ Surplus Loan Proposal
A plan by Florida’s state-backed property insurer to loan private insurers millions of dollars in surplus in exchange for removing policies has not been properly vetted and is a sweetheart deal for a...
View Article3 Reasons Florida’s Citizens Loan Plan Is Bad Idea
It’s been years since a major hurricane has hit Florida, and the good news for Floridians is that property insurers are filing applications to write policies in the state again. But there’s a plan...
View ArticleFlorida Approves More Policy Takeouts at Citizens; Also OKs Commercial Rate...
Florida regulators announced that two property insurance companies have been approved to take out up to 100,000 policies from the state-backed insurer in December, adding to the 210,000 policies...
View ArticleCitizens Shed 150K Policies in October
Officials at the Citizens Property Insurance Corp. say nearly 150,000 of its policyholders were assumed by five smaller insurers in October as the state-backed Citizens’ continues to shed policies in...
View ArticleFlorida Regulator Conducting Review of Citizens Insurance
Florida regulators are working on a report that is expected to layout the financial status, claims handling and other administrative workings of the state’s 1.4 million policyholder-backed property...
View ArticleFlorida’s Citizens Cancels Surplus Loan Plan; CEO Questions Depopulation Methods
Officials of Florida’s policyholder-back insurer have decided not to pursue a plan to loan private insurers part of its surplus in exchange for removing policies citing the fact that as currently...
View ArticleFlorida Lawmakers Unveil Property Reform Proposals
Florida lawmakers’ first draft of a property reform emphasizes depopulating and diverting policies from Citizens Property Insurance Corp., the state-backed property insurer that has 1.3 million...
View ArticleInsurer to Take 31,000 Commercial Wind Policies from Florida’s Citizens
Florida’s state-backed property insurer has approved a plan to shift 31,000 commercial wind-only policies to a new private insurer. The board of Citizens Property Insurance Corp. approved the plan...
View ArticleFlorida Senate Bill Would Depopulate Citizens, Raise Rates, Create Clearinghouse
Lawmakers in the Florida Senate have taken steps to return the state-backed insurer Citizens Property Insurance Corp. to its original purpose of being a market of last resort by requiring it to charge...
View ArticleFlorida’s Citizens Reduces Risk of Emergency Assessments
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...
View ArticleAs Hurricane Season Opens, Florida’s Citizens Touts Depopulation Deals
Officials at Florida’s property insurer of last resort say that it is entering the 2013 hurricane season in improved financial condition thanks in part to various private insurer policy takeouts. Those...
View ArticleFlorida’s Citizens Makes Case for Homeowners, Sinkhole Rate Increases
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...
View ArticleFlorida’s Citizens Signs with 10 Insurers to Take Nearly 400,000 Policies
Hundreds of thousands of Floridians who rely on Citizens Property Insurance could soon find themselves with a new insurance company. State regulators last week quietly signed off on a plan to let 10...
View ArticleFlorida’s Citizens Has New Plan to Shift 200,000 Policies to 8 Private Insurers
Florida’s largest insurer could be shifting thousands more of its policyholders away from the state-created company and into private insurance companies. The head of Citizens Property Insurance Corp....
View ArticleFlorida’s Citizens Touts Policy Count Drop Below 1 Million
Florida’s Citizens Property Insurance Corp. reported that its policy count has dropped below one million for the first time since 2006. The state-backed insurer said that recent takeout efforts,...
View ArticleFlorida Lawmakers Turn Attention to Privatizing Commercial Business in Citizens
One year after enacting reforms designed to reduce the amount of homeowners business in the state’s insurer, state lawmakers are now looking to further shrink Citizens Property Insurance Corp. by...
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