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Florida's Office of Insurance Regulation last month approved First Community Insurance Co. to take out as many as 51,249 Citizens policies, while Safepoint Insurance Co. may remove up to 40,000 policies. Elements Property Insurance Co. and Heritage Property Casualty Insurance Co. each have been approved for up to 20,000 policies.
(The Center Square) − Louisiana property insurance policyholders will see some financial relief this year as the Louisiana Citizens Property Insurance Corporation (Louisiana Citizens) announced ...
With private insurers dropping customers and raising rates, the state-backed Citizens Property Insurance Corp. saw its number of policies increase about 50% in 2022.
How policyholders may be affected by the move.
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Citizens has asked Florida Office of Insurance Regulation to approve an overall 13.3% premium increase. Citizens property insurer customer count swells, although it’s state insurer of last ...
The policy term is the period that an insurance policy provides coverage. Many policies have a one-year term (365 days) but other terms both longer and shorter are used. Policy terms can be for any length of time and can be for a short period when the period of risk is also short or can be for multi-year periods.
State regulators have approved proposals by two property insurers to take as many as 26,000 policies from the state-backed Citizens Property Insurance Corp., Florida’s largest home insurer.