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Media Advisory

Citizens Property Insurance Corporation (Citizens) Public Rate Hearing
Thursday, August 11, 2016
Contact Info:

Amy Bogner/Karen Kees
(850) 413-2515                      

Press@floir.com  

Who:
Citizens Property Insurance Corporation (Citizens)
What:

The Florida Office of Insurance Regulation (Office) will conduct a rate hearing to receive public comment on Citizens proposed rate changes for its business in the Multi-Peril and Wind Only Coastal Account (CA), Commercial Lines Account (CLA), and the Personal Lines Account (PLA). These accounts include, but are not limited to: Commercial Property, Homeowners, Mobile Homeowners, and the Dwelling Fire lines of business. Additional filings on behalf of Citizens will be forthcoming and evidence regarding such filings may be received at the hearing.

Listed in the chart below are the proposed rate changes (by file log number) as filed by Citizens with the Office. These filings can be accessed via the “I-File Forms & Rate Filing Search” system using the following search criteria:  file log numbers (provided below) or by entering Citizens as the “company name” (and scrolling down to the bottom of the results page for the most recent filing information).

File Log #

Overall Proposed Rate Change

Account

16-16024

6.9% increase

Homeowners Multi-Peril (PLA)

16-16025

8.2% increase

Homeowners Multi-Peril Wind Only (CA)

16-16575

5.3% increase

Property/Personal (Dwelling Fire)(PLA)

16-16576

9.3% increase

Property/Personal (Dwelling Fire) Wind Only (CA)

16-16785

5.7% increase

Mobile Homeowners Multi-Peril  (PLA)

16-16788

10.3% increase

Mobile Homeowners  Multi-Peril Wind Only (CA)

16-16866

10.5% increase

Mobile Homeowners (Dwelling Fire) Wind Only (CA)

16-16867

3.2% increase

Mobile Homeowners (Dwelling Fire)(PLA)

 

There are no proposed rate changes for Sinkhole coverage and the requested rate changes in the chart above are not uniform.  The effective date of the proposed rate change for all accounts is February 1, 2017, for new and renewal business.

The general public is welcome to submit comments about Citizens’ proposed rate filings by sending an email to: ratehearings@floir.com with “Citizens” in the subject line of the email. Comments will be accepted for consideration on rate filings until 5:00 p.m. (Eastern Time) on September 1, 2016. Under Florida law, written communications to the Office are public record and subject to disclosure, including being available to the public and media. Therefore, it is highly recommended that you carefully consider the type of information provided within a comment, such as personal information (social security numbers, policy information, etc.). To learn more, visit the Office’s Internet Privacy Policy.

A copy of the hearing agenda is available for review.  

The Florida Channel will stream the hearing live online via its website and a link to a video recording of the hearing will be available at a later date.

For more information, visit the Office’s “Citizens Public Rate Hearing” webpage.  ​

When:
Thursday, August 18, 2016 9:00 AM
Where:

Senator Jim King Committee Room
401 Senate Office
Building
404 South Monroe Street
Tallahassee, FL 32399

Contact Info:

Amy Bogner/Karen Kees
(850) 413-2515                      

Press@floir.com  

About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information about the Office, please visit
www.floir.com or follow us on Twitter @FLOIR_comm

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