Citizens Property Insurance Corp. News

Louisiana Citizens Lowering Commercial Property Rates

The state-run property insurer of last resort in Louisiana plans to lower commercial rates. The Advocate reports the bulk of those cuts would benefit the 352 commercial policyholders Louisiana Citizens Property Insurance Corp. covers in coastal areas. Those policyholders would …

Florida’s Citizens Announces Staff Changes to Enhance Risk Oversight

Citizens Property Insurance Corporation on Friday announced it has filled a pair of key positions to enhance its financial and risk oversight capabilities as the state-created insurer continues the process of streamlining operations and reducing exposure. On Friday, Citizens President, …

Florida Approves Citizens Property Insurance Hikes

Florida regulators are signing off on rate hikes for hundreds of thousands of Citizens customers. The Office of Insurance Regulation announced Monday that it has approved an overall statewide rate hike of 6.3 percent for Citizens Property Insurance Corp. Citizens …

Nearly 400,000 Policyholders May Move From Florida Insurer

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 different insurance companies absorb nearly 400,000 Citizens …

Citizens Urged Regulators to Back More Rate Hike

Florida’s largest property insurer went before state regulators Tuesday in an effort to win approval of another round of rate hikes. Citizens Property Insurance Corp., which covers many homeowners who live in the state’s more vulnerable coastal regions, is asking …

Citizens to Boost its Line of Credit to $125M

State officials have given Louisiana’s property insurer of last resort the approval needed to bump up its bank line of credit to $125 million. Backing Thursday from the State Bond Commission gives the Louisiana Citizens Property Insurance Corp. more resources …

Florida’s Largest Insurer Approves 7 Percent Rate Hike

Florida’s largest property insurer has approved another round of rate hikes that could affect more than a million policyholders. The board for Citizens Property Insurance Corp. voted Wednesday to raise rates by a statewide average of 7 percent next year. …

Florida Largest Insurer Considering Rate Hikes

Florida’s largest property insurer is considering rate hikes for next year. The board of Citizens Property Insurance Corp. will vote next week on a range of proposed hikes. The state-created insurer has 1.26 million policyholders. State law requires Citizens to …

Citizens Property Insurance CFO Resigns

Citizens Property Insurance Corp.’s chief financial officer is stepping down. The state-created insurer announced the resignation of CFO Sharon Binnun on Monday. It said she will be taking a job with a private Florida insurer that hasn’t done business with …

Florida Governor and Others Were Told About Citizens’ Deal

Florida Gov. Rick Scott – and other top state officials – quickly distanced themselves last month from a controversial deal approved by Citizens Property Insurance Corp. to shift thousands of homeowner policies to a start-up insurance company. But emails show …