The 2013 Atlantic hurricane season officially comes to a close at midnight on Saturday,November 30, and Mother Nature has again spared Florida from a major storm. Here at Citizens Property Insurance Corporation, we have been busy taking advantage of that good fortune.
Citizens’ overall exposure has dropped 33 percent in the past 15 months, while our policycount has fallen a remarkable 28 percent over the past year. As the season draws to a close, Citizens has nearly $6.8 billion in reserves and is in the best financial shape ever. More importantly for Floridians, the risk of assessments – the “hurricane tax” – has been cut by more than half since 2011.
Despite such welcome news…
To read the entire press release as .pdf click here.