Seven private insurers have been approved to pick up nearly half of the remaining policies held by Citizens Property Insurance Corp. which is backed by the state.
Citizens Property Insurance Corp. is starting to advise many homeowners with expiring policies that they have to go through an electronic clearinghouse intended to shift more policies into the private market.
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 enters the 2014 hurricane season believing its finances are on solid ground.
Changes are on the way for Citizens Property Insurance customers. Insurance regulators have given approval for three companies to collectively acquire up to 45,000 residential policies from the state-backed Citizens Property Insurance Corp.
As Citizen’s Property Insurance Corp customers continue to be shifted into the private insurance market, the company is slowly reaching their 1 million policy mark.
Missing numbers on hurricane shutters are costing some South Florida homeowners thousands of dollars when it comes to paying for their property insurance.
Some South Florida homeowners who are insured by Citizens Property Insurance may be eligible for a cheaper option.