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Economy / Business

Citizens Insurance Rate Hearing Tuesday

sinkhole_sofl.jpg
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.

On the beaches, Citizens’ policyholders will have a chance to sit down and talk with Citizens’ staff, if they register, from 9 to 11 a.m. at the Tampa Bay Beaches Chamber of Commerce, 6990 Gulf Boulevard, St. Pete Beach. To register, contact Doug Izzo at Doug@TampaBayBeaches.com.

All Florida property owners know the havoc that hurricanes and sinkholes play on insurance rates. But many insured by Citizens’ have nowhere else to turn for coverage.

A public hearing on the Citizens rate hikes – especially the spike in the cost of sinkhole coverage in Hillsborough, Pasco and Hernando counties – is set Tuesday from 4 to 8 p.m. at the Tampa Convention Center, 333 S. Franklin Street, Tampa.

Those policyholders who can’t make the public hearing may email their comments to Florida Insurance Commissioner Kevein McCarty’s office at RateHearings@floir.com .