Citizens Property Insurance Corporation (Citizens) Public Rate Hearing
The Florida Office of Insurance Regulation (Office) conducted a rate hearing to receive public comment for Citizens’ proposed rate changes at 4:00 p.m. on Wednesday, August 23, 2017.
The hearing was held at Florida International University’s Kovens Conference Center (Biscayne Bay Campus) located in North Miami, Florida, and streamed live online via the
Florida Channel website.
The purpose of the public hearing was to discuss Citizens’ proposed rate changes for its business in the Coastal Account (CA), Commercial Lines Account (CLA), and the Personal Lines Account (PLA).
These accounts included, but were not limited to: Commercial Property, Homeowners, Mobile Homeowners, and the Dwelling Fire lines of business.
ADDITIONAL HEARING INFORMATION
Kovens Conference Center, Bayview Ballroom South, Room 214A
Florida International University (Biscayne Bay Campus)
3000 NE 151st Street, North Miami, Florida 33181-3000
Driving Directions and Map
PUBLIC COMMENTS/TESTIMONY
Public comments about Citizens proposed rate filings were accepted through August 31, 2017.
Under Florida law, written communications to the Office are public record and subject to disclosure, including being available to the public and media. To learn more, visit the Office’s
Internet Privacy Policy.
RATE FILING DECISIONS:
Date |
File Log # |
Account |
Total # of Policies |
Earned Premium Amount |
Estimated Rate Established* |
Order/Exhibits |
12/6/17 |
17-16826 |
Homeowners Multi-Peril (PLA) |
206,173 |
$411,845,347 |
6.6% increase |
Order Applies to all Personal Property filings. |
|
17-16827 |
Homeowners Wind Only (CA) |
82,143 |
$180,948,822 |
0.9% increase |
|
|
17-16966 |
Property/Personal (Dwelling Fire) (PLA) |
122,679 |
$177,174,714 |
5.2% increase |
|
|
17-16967 |
Property/Personal (Dwelling Fire) Wind Only (CA) |
16,454 |
$39,027,800 |
4.6% increase |
|
|
17-17210 |
Mobile Homeowners Multi-Peril (PLA) |
18,512 |
$15,874,244 |
3.9% increase |
|
|
17-17211 |
Mobile Homeowners Wind Only (CA) |
3,931 |
$3,539,489 |
9.8% increase |
|
|
17-17409 |
Mobile Homeowners (Dwelling Fire) (PLA) |
32,027 |
$13,445,569 |
7.1% increase |
|
|
17-17410 |
Mobile Homeowners (Dwelling Fire) Wind Only (CA) |
428 |
$367,453 |
10.0% increase |
|
12/6/17 |
17-18043 |
Commercial Property Residential Multi-Peril (Condo Assn.) (CLA) |
954 |
$28,957,369 |
4.8% increase |
Order Applies to all Commercial Property Filings |
|
17-18044 |
Commercial Property Residential Multi-Peril (Ex. Condo Assn.) (CLA) |
1,030 |
$15,962,020 |
4.6% increase |
|
|
17-18234 |
Commercial Property Non-Residential Multi-Peril (CLA) |
1,001 |
$6,958,306 |
8.1% increase |
|
|
17-18869 |
Commercial Property Residential Wind Only (Condo Assn.) (CA) |
2,236 |
$40,038,845 |
10.1% increase |
|
|
17-18870 |
Commercial Property Residential Wind Only (Ex. Condo Assn.) (CA) |
2,010 |
$16,944,986 |
9.8% increase |
|
|
17-18965 |
Commercial Property Non-Residential Wind Only (CA) |
8,701 |
$69,815,949 |
9.4% increase |
|
* This is an estimate of the rate effect on earned premiums determined using selected changes from the in-force policy distributions and the rates in the Order.
PROPOSED RATE LEVEL EFFECTS
The proposed Citizens rate filings listed below can be accessed via the I-File Forms & Rates Filing Search system by using the following search criteria: file log numbers (see chart below) or
by entering “Citizens” as the “company name” in the “Quick Search” tab. Scroll down to the bottom of the results page for the most recent filing information.
File Log # |
Overall Proposed Rate Change |
Account |
Proposed Rate Filing Exhibits (by county, where applicable) |
17-16826 |
6.7% increase |
Homeowners Multi-Peril (PLA) |
HO-3,
HO-4,
HO-6,
Summary |
17-16827 |
1.7% increase |
Homeowners Wind Only (CA) |
HO-3,
HO-4,
HO-6,
Summary |
17-16966 |
5.2% increase |
Property/Personal (Dwelling Fire) (PLA) |
DP-1,
DP-3,
Summary |
17-16967 |
6.3% increase |
Property/Personal (Dwelling Fire) Wind Only (CA) |
DP-3,
Summary |
17-17210 |
3.9% increase |
Mobile Homeowners Multi-Peril (PLA) |
MHO-3,
MHO-4,
Summary |
17-17211 |
9.8% increase |
Mobile Homeowners Wind Only (CA) |
MHO-3,
Summary |
17-17409 |
7.1% increase |
Mobile Homeowners (Dwelling Fire) (PLA) |
MHO-Dwelling,
Summary |
17-17410 |
10% increase |
Mobile Homeowners (Dwelling Fire) Wind Only (CA) |
MHO-Dwelling,
Summary |
17-18043 |
4.8% increase |
Commercial Property Residential Multi-Peril (Condo Assn.)(CLA) |
Summary |
17-18044 |
4.7% increase |
Commercial Property Residential Multi-Peril (Ex. Condo Assn.) (CLA) |
Summary |
17-18234 |
8.1% increase |
Commercial Property Non-Residential Multi-Peril (CLA) |
Summary |
17-18869 |
10.3% Increase |
Commercial Property Residential Wind Only (Condo Assn.) (CA) |
Summary |
17-18870 |
9.8% Increase |
Commercial Property Residential Wind Only (Ex. Condo Assn.) (CA) |
Summary |
17-18965 |
9.4% Increase |
Commercial Property Non-Residential Wind Only (CA) |
Summary |
There are no proposed rate changes for Sinkhole coverage and the requested rate increases in the chart above are not uniform. The effective date of the
proposed rate changes for all three accounts (Coastal, Commercial Lines, and Personal Lines) was originally February 1, 2018, for new and renewal business,
but was changed to no earlier than May 1, 2018, due to the issuance of the Emergency Order for Hurricane Irma.
CONTACT INFORMATION
Communications Office
Main Press Line: (850) 413-2515
Email: press@floir.com