Citizens Property Insurance Corp. News

Florida’s Hurricane-Free Run Has Insurer Bracing for Storms

Florida hasn’t been hit by a hurricane since 2005, the longest stretch in more than a century. Its state-run property insurer isn’t taking any chances. Even though forecasters predict this year will produce the fewest named Atlantic storms since 1997, …

Florida Agency Approves Removal of Citizens’ Policies

The Florida Office of Insurance Regulation (Office) has approved the removal of up to 180,040 personal residential policies and 2,527 commercial residential polices from Citizens Property Insurance Corporation (Citizens) by the following nine companies: Anchor Property & Casualty Insurance Company …

Florida Hurricane Tax to End in July 2015

A 1-percent surcharge now in place on most insurance bills in Florida will be removed next summer. The board of Citizens Property Insurance Corp. voted on Wednesday to end an emergency assessment two years earlier than anticipated. Citizens has been …

Florida OIR Approves Removal of Up to 427,584 Policies From Citizens

The Florida Office of Insurance Regulation (OIR) announced that it has approved the removal of up to 425,357 personal residential policies and 2,227 commercial residential policies from Citizens Property Insurance Corp. by 14 companies. The OIR said Thursday this is …

Florida’s Citizens Reaches Settlement Over Sinkhole Damage

Florida’s state-run insurer says it has reached a settlement to allow homeowners to receive professionally recommended repairs for sinkhole damage. In an announcement Wednesday, Citizens Property Insurance Corporation said it will pay for underground repairs as recommended by a professional …

Louisiana’s Citizens Ordered to Return $16M to Homeowners

Louisiana Citizens Property Insurance Corp. may have to return $16 million to homeowner customers who, for years, were charged a $65 application fee without their knowledge. Insurance Commissioner Jim Donelon ordered the application fees returned Dec. 12, saying Citizens broke …

Citizens Settles Remaining Claims Over 2005 Storms

A state-run insurance company of last resort has settled the remaining claims in a class-action lawsuit tied to how it handled claims after hurricanes Katrina and Rita in 2005. The New Orleans Advocate reports state District Judge Henry Sullivan gave …

Florida Legislators Look Into Questionable Insurance Deal

The head of Florida’s largest property insurer defended on Tuesday a controversial deal to pay millions to a startup insurance company that made campaign donations to Gov. Rick Scott. But Barry Gilway, president and CEO of Citizens Property Insurance Corp, …

Louisiana Insurance Commissioner Says Fewer Customers Have Citizens Insurance

Louisiana Insurance Commissioner Jim Donelon says the state-run insurer of last resort has its lowest number of customers since Hurricane Katrina struck Louisiana eight years ago. Donelon says the Louisiana Citizens Property Insurance Corp. has 105,000 policies, representing about 3 …

200,000 Policyholders May Move From Florida Insurer

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. announced Friday that as many as 200,000 customers from across the state …