Positive signals for Florida's property insurance market as Citizens sees drop in policy county
The state-backed insurer of last resort, Citizens, is finally seeing policy counts drop after years of rapid increases.
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The state-backed insurer of last resort, Citizens, is finally seeing policy counts drop after years of rapid increases.
TALLAHASSEE — Private insurers pulled more than 275,000 policies last year from the state’s Citizens Property Insurance Corp. and have taken nearly 115,000 this year, with Citizens President and CEO
Private insurers pulled more than 275,000 policies last year from the state's Citizens Property Insurance Corp. and have taken nearly 115,000 this year, with Citizens President and CEO Tim Cerio saying Wednesday he thinks "we're coming through to the other side" after years of troubles in the market.
Citizens expects to have 330,000 policies going to the private market.
Florida insurance crisis for homeowners now faces the grim prospect of an "explosive" hurricane season, casting shadows on the financial resilience