Citizens Property Insurance

Hurricane Ian dealt a major blow to Florida’s already crippled property insurance market. The Category 4 storm is expected to go down as one of the costliest in U.S. history, and that’s expected to drive more of the state’s private insurers out of business.

The projection has been scaled back because Citizens has not seen as many claims as initially expected in areas outside of hard-hit Lee, Charlotte and Sarasota counties.

Angry at a ratings agency that raised the possibility of downgrading 17 Florida property insurers, state leaders could be poised to look for an alternative.

Governor Ron DeSantis signed a property insurance reform bill into law, June 11, following a roundtable discussion in Sarasota. Supporters of the measure say it will drive down property insurance rates in the long run, but opponents argue it will do just the opposite as well as make it easier for insurance companies to deny claims.

On average, Policyholders with the state-backed insurer Citizens Property Insurance could see an 8.2 percent rate hike. Blaise Gainey reports the...

Continuing to point at “out of control” water damage claims, the Citizens Property Insurance Board of Governors on Tuesday unanimously backed proposed...

Florida’s Office of Insurance Regulation on Friday approved most of the changes requested by Citizens Property Insurance.

State regulators are considering rate hikes for Citizens Property Insurance customers. The state-backed insurer is pushing for a nearly 7 percent...

Florida’s state-backed property insurance company Citizens is about half the size it was a few years ago, and a spokesman says there’s not much more...

Florida Governor Rick Scott has approved a package of consumer-friendly changes for state-backed property insurer Citizens. Sen. Anitere Flores (R-Miami...