citizens insurance

Florida's state-created property insurer is probably going to raise its rates again.

Florida and it's big insurance companies are ready for a hurricane.

Citizens Proposes Rate Hikes for Coastal Customers

Jun 23, 2015
National Weather Service

More than half of Citizens Property Insurance customers will face rate increases next year, under a proposal going before the insurer's Board of Governors on Wednesday.

The biggest increases are expected to hit coastal policyholders.

"The overall increase is being fueled by a continued spike in water loss claims in Southeast Florida and the fact that most coastal policies with nearly adequate rates have found coverage with private market insurance companies," a release from the state-backed insurer said Monday.

Citizens insurance is touting its efforts to move policies into the private market—a process known as depopulation.  Florida’s insurer of last resort is introducing new plans to make the move more transparent.

The state-backed insurer concluded its final meeting of the year Wednesday, highlighting its ability to shift 300,000 policies to the private sector since January.  Citizens official Steve Bitar says the company is making changes to improve the depopulation process for consumers.

State-Backed Citizens Insurance May Put Early End to Storm Tax

Sep 20, 2014

A 1 percent charge imposed on most homeowners' policies to help the state-backed Citizens Property Insurance Corp. cover losses from the last of the 2005 hurricanes may come off the books two years early.

Citizens' Board of Governors will be asked Wednesday to put an end date of July 1, 2015, on the storm assessment, which has been slated to continue until June 30, 2017, according a proposal on the board's agenda.

Citizens Property Insurance CEO Barry Gilway is grounded. Gilway got a scolding from members of the Florida cabinet Tuesday who say the state-backed insurance company is spending too much money on overseas travel.

Gilway says he understands the state’s largest property insurer suffers from a damaged reputation. But he says since he came on board he’s turned things around.

Citizens, Tampa Law Firm Reach Sinkhole Agreement

Jul 18, 2014
Bruce Ackerman / AP

Citizens Property Insurance Corp. and a Tampa-based law firm have reached an agreement that could help resolve about 300 sinkhole claims, the state-backed insurer announced Thursday.

Under the agreement, clients of the Thompson Trial Group P.A. will receive settlement offers that include a plan for making repairs to homes damaged by sinkholes.

Senate, House Differ on Telemedicine

Mar 6, 2014

A Senate committee Wednesday approved a proposal aimed at boosting the use of the telemedicine in Florid, a plan that differs significantly from the House’s plan.

The Senate Health Policy Committee voted 7-2 for a measure (SPB 7028) that would establish guidelines and requirements for health providers who want to treat patients remotely through the use of Internet and telecommunications technology.

MGN Online

Bills aimed at enhancing the penalties if an insurer discriminates against a gun owner are moving through both chambers of the Florida Legislature. But, some are raising concerns about the reasoning behind the measure, saying there’s not enough evidence to support it.

USGS.gov

Florida’s state-run Citizens Property Insurance is coming to the Tampa Bay region for feedback on its announced rate increases.

Citizens’ policyholders have two opportunities Tuesday, August 20, 2013, to have their questions answered. The proposed rate hikes that range from two to 11 percent for hurricane coverage and increases up to 27 percent for sinkhole coverage.