'Florida's Insurer Of Last Resort,' Citizens Seeks Double-Digit Rate IncreasesWith thousands of new policies, a week pouring into Citizens Property Insurance Corp., the state-backed insurer’s board on Wednesday approved seeking 11 percent across-the-board rate increases next year.
Hurricane Michael Insured Losses Top $5 BillionA little more than three months after Hurricane Michael smashed through parts of Northwest Florida, estimated insured losses have topped $5 billion, according to numbers posted Monday on the state Division of Elections website.
Rates Likely To Rise For Almost All Citizens CustomersThe board of Citizens Property Insurance Corp. approved a plan Wednesday that would raise residential insurance rates by an average of 8.2 percent starting in September -- with the hikes hitting almost all customers of the state-backed insurer.
Home Insurers Drop More Than 87,000 In Florida; Citizens Proposes Premium IncreaseFlorida records show home insurers have dropped the policies of more than 87,000 homeowners in the third quarter of this year.
Hurricane Michael Insurance Losses Climb To $1.25 BillionThe number of insurance claims stemming from Hurricane Michael has increased to nearly 100,000, with an estimated $1.25 billion in insured losses, according to data posted on the Florida Office of Insurance Regulation website.
Hurricane Michael Insurance Claims Quickly Pile UpWithin a week of Hurricane Michael barreling into Northwest Florida, nearly 70,000 insurance claims had been filed, with estimated insured losses of $680.7 million.
Florida Insurers To Weather Effects Of Hurricane Michael, Analysts SayFlorida's disjointed property insurance system that relies almost exclusively on small and midsize companies will take a multibillion-dollar loss from Hurricane Michael.
Insurance Losses Due To Hurricane Michael Expected In The BillionsInsured losses from Hurricane Michael could go as high as $4.5 billion, with the largest amount in residential losses, according to an early estimate by an insurance industry group.
Hurricane Irma Insurance Losses Close To $10 BillionInsurance loss estimates from Hurricane Irma have hit $9.7 billion, up by more than $1 billion since April, according to the latest numbers posted by the Florida Office of Insurance Regulation.
Citizens Property Insurance Is Bumping Rates In 2018Most home and business owners who have insurance with state-created Citizen Property Insurance are in for a rate hike next year.
Citizens Insurance Customers Could Be Paying More In 2018Homeowners covered by Citizens Property Insurance may be looking at a rate hike next year.
Water Claims Could Lead To More Citizens PoliciesIncreases in water-damage claims will likely reverse years of downsizing by the state-backed Citizens Property Insurance.
Citizens Seeks Rate Hike Over Water ClaimsState-backed Citizens Property Insurance is looking to boost premiums an average of 6.8 percent statewide as water-damage claims surge.
Changes Coming For Citizens PolicyholdersCustomers of state-backed Citizens Property Insurance will face a number of policy changes as the company seeks to rein in water-damage claims that it blames for higher rates.
Citizens Property Proposes Rate Hike For Coastal CustomersMore than half of Citizens Property Insurance customers will face rate increases next year, under a proposal going before the insurer's Board of Governors.