Citizens Property Insurance Corporation

Property owners see average 4.7% insurance increase

Property owners see average 4.7% insurance increase

The Florida Office of Insurance Regulation (OIR) established the 2019 personal and commercial property insurance rates for Citizens Property Insurance Corporation (Citizens) July 29. Citizens announced June 19 that their Board of Governors had approved revised 2019 rates to reflect the projected impact of Assignment of Benefits (AOB) reforms enacted during the 2019 Legislative Session. […]

Insurers seek increase despite law change

Insurers seek increase despite law change

Thousands of residential property insurance customers across Florida could see reduced costs in 2019, but on the whole customers will not see cheaper insurance premiums as the result of long-sought regulatory reform. At the forefront of the insurance discussion is an amended rate filing by Florida’s insurer of last resort, Citizens Property Insurance Corporation.   […]

Is your insurance going up?

Is your insurance going up?

The Florida Office of Insurance Regulations (FLOIR) has been busy these past few weeks, raising Citizen’s Property Insurance Corporation coastal policy costs by an average 10.9 percent for consumers and finalizing a rate hike of 14.5 percent for workers’ compensation costs to employers across the state. Citizen’s Citizen’s Property Insurance Corporation is a state-backed insurer […]

Florida Chamber: Homeowners’ insurance rates pushed up by hurricane threat

Florida Chamber: Homeowners’ insurance rates pushed up by hurricane threat

Florida residents pay twice the national average for homeowners insurance according to the Florida Chamber Foundation, and the risk for catastrophic hurricanes may be to blame. East Bay Insurance Agency Principal John Hays handles thousands of homeowners’ insurance policies throughout the state of Florida. He said although the system is complex, the level of risk […]