The Florida Supreme Court has put off a decision on whether Citizens Property Insurance Corp. can use its status as a state-backed entity to avoid lawsuits accusing it of bad faith in responding to claims. The justices on Thursday, though, …
Louisiana Citizens Property Insurance Corp.’s board is expected to approve increasing its commercial coverage rates by an average of 45.1 percent statewide this week. Almost all of Citizens’ roughly 5,700 commercial property policies are in the New Orleans area and …
Officials at the Citizens Property Insurance Corp. say nearly 150,000 of its policyholders have been assumed by five smaller insurers in October as the state-backed Citizens’ continues to shed policies in its downsizing efforts. Another 25,000 Citizens’ policy holders rejected …
Significant rate increases for state-sponsored wind and hail property insurance policies that Citizens Property Insurance Corp. approved earlier this year were legal, according to an opinion by the state’s attorney general. The Courier reports that the Attorney General James “Buddy” …
In the face of criticism, the top executive of Florida’s state-backed property insurer acknowledge his decision to close the insurer’s office in charge of corporate oversight before having its replacement in place was ill-advised. Citizens Property Insurance Corp. executives recently …
The president of the Citizens Property Insurance Corp. said Monday he supports an investigation into its business operations by Gov. Rick Scott’s office. Barry Gilway, a longtime private sector CEO who has been at the helm of the state-backed insurer …
Florida’s insurance regulators are approving double-digit rate increases for customers of the state-backed Citizens Property Insurance Corp. The Office of Insurance Regulation said Tuesday it has approved a 10.8 percent increase on multi-peril homeowners’ policies and an 8.8 percent hike …
Florida insurance regulators have announced the approval of another 60,000 policies for removal from the state-backed Citizens Property Insurance Corp. The Office of Insurance Regulation earlier approved another 150,000 policies to be acquired by four Florida domestic companies beginning in …
Louisiana’s property insurer of last resort says Hurricane Isaac has resulted in over 13,000 claims and they expect more to come. Vice President and Chief Claims Officer of Louisiana Citizens Property Insurance Corp. Quin Netzel said Thursday most claims average …
Four Florida-based property insurers have been given the green light to remove up to 150,000 policies from the state-backed Citizens Property Insurance Corp., which would contribute to the greatest shift of policies to the private market since 2008. Citizens has …