Office Approves Removal of up to 132,941 Policies from Citizens

The Florida Office of Insurance Regulation (Office) has approved the removal of up to 132,441 personal residential policies and 500 commercial residential polices from Citizens Property Insurance Corporation (Citizens) by the following five companies:

Citizen’s Personal Lines and Commercial Lines Accounts are mostly non-coastal properties and the Coastal Account are coastal properties. The take-out periods are February 17, 2015 for personal residential impacting both the PLA/CA policies and February 10, 2015 for commercial residential impacting both the CLA/CA policies. This is part of the state’s ongoing effort to reduce the number of policies in the state-created Citizens and transfer them to the private insurance market.

Entire Press Release: .pdf | Office of Insurance Regulation