Fla.: Citizens Tornado Claims Payments Top $500,000

February 8, 2007

Citizens Property Insurance Corp. paid out more than $520,000 in claims payments to policyholders affected by the Feb. 2 storms according to a company official.

“We’ve paid $521,951 in damage claims and have another $200,000 in checks that are being processed right now,” said Tim Loftin, senior vice president of claims for Citizens.

Loftin said the first checks were delivered by hand to policyholders on Feb. 6. Another shipment of checks from Citizens’ Jacksonville office was headed for Lake and Volusia Counties Wednesday.

Loftin said more than 230 storm-related claims have been filed so far. He said Citizens is expecting claims from about 500 policyholders. The final damage total for Citizens should be between $5 million and $6 million, Loftin said.

Citizens has four Emergency Operations Centers open in the affected counties and about 75 personnel on hand to help policyholders.

Source: Citizens Property Insurance Corporation

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