If you homeowner’s policy is with Citizens Property Insurance, you’re going to be paying a bit less next year. On Wednesday the board of the state’s largest property insurer voted to lower rates by an average of 3.2 percent for single family homeowners in 2015.
Citizens Property Insurance Corp., which moved forward Wednesday in reducing rates for most customers, has delayed putting existing policies into a clearinghouse designed to shift property owners into the hands of private companies.
Citizens Property Insurance Corporation, the state-backed insurer of last resort is predicting it will be down to only 750,000 policies by the end 2015.
The state’s Office of Insurance Regulation is considering a request by Citizens Property Insurance Corp. for another round of rate hikes in 2014.
Gov. Rick Scott on Monday ordered his auditor general to investigate whether officials at Citizens Property Insurance Corp. retaliated against whistle blowers within the state-backed insurer when they shut down the internal investigation unit last month.
itizens Property Insurance Corp would offer $300 million in loans to encourage private companies to take policies out of the state-backed insurer under a plan unveiled Thursday that backers say could reduce Citizens’ non-coastal ranks by a third.
The new head of Citizens Property Insurance Corp. made his debut before the governor and Cabinet on Tuesday, saying the state-backed insurer needs to raise rates but conceded that the issue is a political hornet’s nest.