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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.
The two main levers the insurance industry has to remain solvent, wrote Smith, is to increase premiums and to obtain more reinsurance coverage. Proposition 103 essentially forbids both ...
For the upcoming round of base premiums, the state insurance regulators are reporting that as of mid-November, 24 rate filings show a rate decrease and 46 rate filings show a zero rate increase.
The state-backed Citizens Property Insurance Corp. had more than 1.14 million policies as of Friday, an increase of about 14,000 customers since the end of November, according to newly posted data ...
Despite concerns about the OIR, "State regulators have approved six property insurers to remove up to 151,000 policies from state-run Citizens Property Insurance Corp. in February [2014]. 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 ...
The state’s largest property insurer will present on Sept. 27 average premium hike of 11.5% for homeowners. Citizens cutting planned home insurance rate hike, but still double-digit jump Skip to ...
While real estate industry analysis in July 2024 estimated insurance costs for property investors to only be 8% of total costs, rising insurance costs reduced values on multifamily properties nationally by 3.6% from the fourth quarter of 2019 through the second quarter of 2024, contributed to 17% of total expense growth during the period, and ...
Tens of thousands of customers of state-owned Citizens Property Insurance Corp. are getting a stunning surprise in their mailboxes. It’s a letter from Citizens’ “Depopulation Unit” stating ...
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