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Citizens Property Insurance Corporation (Citizens) Public Rate Hearing

The Florida Office of Insurance Regulation (OIR) conducted a rate hearing to receive public comment for Citizens’ proposed rate changes at 5:00 p.m. on Thursday, March 14, 2019. The hearing was held at Florida International University’s Kovens Conference Center (Biscayne Bay Campus) located in North Miami, Florida.

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


  • Agenda
  • Hearing Notice
  • Media Advisory
  • Video
  • REVISED PROPOSED RATE LEVEL EFFECTS


    On June 19, Citizens announced that their Board had approved revised 2019 rates which show an impact of Assignment of Benefits (AOB) reforms. The revised proposed Citizens rate filings listed below can be accessed via the IRFS 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)
    19-123770 2.6% increase Homeowners Multi-Peril (PLA) HO-3HO-4HO-6, Summary
    19-123769 8.5% increase Homeowners Wind Only (CA) HO-3HO-4, HO-6, Summary
    19-123899 8.5% increase Property/Personal (Dwelling Fire) (PLA) DP-1DP-3Summary
    19-123901 8.0% increase Property/Personal (Dwelling Fire) Wind Only (CA) DP-3Summary
    19-123930 0.8% increase Mobile Homeowners Multi-Peril (PLA) MHO-3MHO-4Summary
    19-123932 9.8% increase Mobile Homeowners Wind Only (CA) MHO-3Summary
    19-123951 8.0% increase Mobile Homeowners (Dwelling Fire) (PLA) MHO-DwellingSummary
    19-123952 9.6% increase Mobile Homeowners (Dwelling Fire) Wind Only (CA) MHO-DwellingSummary
    19-123233 5.3% increase Commercial Property Residential Multi-Peril (Condo Assn.)(CLA) Summary
    19-123232 5.0% increase Commercial Property Residential Multi-Peril (Ex. Condo Assn.) (CLA) Summary
    19-123238 5.0% increase Commercial Property Non-Residential Multi-Peril (CLA) Summary
    19-123239 10.5% increase Commercial Property Residential Wind Only (Condo Assn.) (CA) Summary
    19-123240 10.0% increase Commercial Property Residential Wind Only (Ex. Condo Assn.) (CA) Summary
    19-123271 10.0% 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) is December 1, 2019, for new and renewal business.

    ORIGINAL PROPOSED RATE LEVEL EFFECTS


    The proposed Citizens rate filings listed below can be accessed via the IRFS Forms & Rates Filing 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)
    19-00810 8.5% increase Homeowners Multi-Peril (PLA) HO-3, HO-4, HO-6, Summary
    19-00811 8.7% increase Homeowners Wind Only (CA) HO-3, HO-4, HO-6, Summary
    19-00843 8.7% increase Property/Personal (Dwelling Fire) (PLA) DP-1, DP-3, Summary
    19-00844 8.2% increase Property/Personal (Dwelling Fire) Wind Only (CA) DP-3, Summary
    19-00931 1.6% increase Mobile Homeowners Multi-Peril (PLA) MHO-3, MHO-4, Summary
    19-00932 9.8% increase Mobile Homeowners Wind Only (CA) MHO-3, Summary
    19-00955 8.0% increase Mobile Homeowners (Dwelling Fire) (PLA) MHO-Dwelling, Summary
    19-00956 9.6% increase Mobile Homeowners (Dwelling Fire) Wind Only (CA) MHO-Dwelling, Summary
    19-00251 5.3% increase Commercial Property Residential Multi-Peril (Condo Assn.)(CLA) Summary
    19-00252 5.0% increase Commercial Property Residential Multi-Peril (Ex. Condo Assn.) (CLA) Summary
    19-00275 5.0% increase Commercial Property Non-Residential Multi-Peril (CLA) Summary
    19-00387 10.5% increase Commercial Property Residential Wind Only (Condo Assn.) (CA) Summary
    19-00388 10.0% increase Commercial Property Residential Wind Only (Ex. Condo Assn.) (CA) Summary
    19-00470 10.0% 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) is September 1, 2019.

    PUBLIC COMMENTS/TESTIMONY


    The general public is welcome to submit comments about Citizens’ revised 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 July 17, 2019. Under Florida law, written communications to the OIR are public record and subject to disclosure, including being available to the public and media. To learn more, visit the OIR’s Internet Privacy Policy.

    CONTACT INFORMATION


    Communications Office
    Main Press Line: (850) 413-2515
    Email: press@floir.com