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Citizens Property Insurance Corporation (Citizens) was created in 2002 from the merger of two other entities to provide both windstorm coverage and general property insurance for home-owners who could not obtain insurance elsewhere. It was established by the Florida Legislature in Chapter 627.351 (6) Florida Statutes as a not-for-profit insurer ...
Of the $165 billion in natural disaster–caused damage the U.S. experienced in 2022, $116 billion of it was in Florida. Average annual home insurance premiums are triple the national average ...
Data from Citizens, the state-chartered property insurer of last resort for homeowners who can’t find coverage in Florida’s shaky home insurance market, show the company dropped 2,267 policies ...
Florida homeowners who hold Citizens Insurance policies will have more takeout options. Here are the insurance companies. ... The company does not have an A.M. Best Credit Rating. A.M. Best is an ...
Cate Deventer. April 22, 2024 at 8:00 AM. In 2022, the Florida home insurance market spent months tumbling toward collapse, but legislation was put in place to help mitigate disaster. These laws ...
The proposal, in part, would lead to an average 13.5 percent rate increase for the most-common type of Citizens policy, known as homeowners’ “multi-peril” coverage. Condominium-unit owners ...
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