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A report from Weiss Ratings, a Palm Beach Gardens ratings agency, found that the state-backed insurer of last resort closed homeowner claims without a payment 50.4% of the time in 2023.
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.
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.
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 ...
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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 ...
Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in the United States by 1989.
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