citizens property insurance

Citizens Property Insurance Seeks Rate Hike, Blames Water Claims

Jun 20, 2017

Continuing to point at “out of control” water damage claims, the Citizens Property Insurance Board of Governors on Tuesday unanimously backed proposed rate increases that would hit South Florida policyholders hardest next year.

The changes, if approved by state regulators, would boost personal-lines policies on average by 5.3 percent and commercial lines by 8.4 percent. Personal-lines policyholders are homeowners, condominium-unit owners and renters.

State Approves Citizens Rate Hikes For 2017

Sep 19, 2016

Florida’s Office of Insurance Regulation on Friday approved most of the changes requested by Citizens Property Insurance.

Citizens Insurance CEO: Rate Hike Due To Spike In Water Claims

Aug 25, 2015
maxstrz / Flickr Creative Commons

A "disturbing" rise in water-damage claims in South Florida is driving Citizens Property Insurance Corp. to seek an average 3.2 percent increase in rates for many homeowners, the president of the state-backed insurer said Tuesday.

  Without the surge in reported residential water damage over the past two years, which is causing the agency to alter its approach to such claims,Citizens would be asking for an average statewide rate decrease, Citizens President and CEO Barry Gilway said during a rate hearing before the Office of Insurance Regulation.

Florida Roundup: When Do You Prep For A Storm?

Aug 24, 2015

Last weekend hurricane Danny strengthened to a Category 3 major storm with winds at 115 mph. It's now down to a tropical depression.

While Florida hasn't seen a major storm since Hurricane Wilma blew through in 2005, Florida Division of Emergency Management Director Bryan Koon says residents should prepare every year right around May.