Citizens Property Insurance Corporation Public Rate Hearing 2017

OIR conducts a public rate hearing regarding the Citizens Property Insurance Corporation (Citizens) rate filing to hear testimony from the company and receive public comment. Details regarding the 2017 rate hearing are available below.

2017 Citizens 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.

Public Comments / Testimony

Public comments about Citizens proposed rate filings were accepted through August 31, 2017.

 File LogAccountEstimated
Rate		Total
# of
Policies		Earned
Premium
Amount
17-16826Homeowners Multi-Peril (PLA)+6.6%206,173$411,845,347
17-16827Homeowners Wind Only (CA)+0.9%82,143$180,948,822
17-16966Property/Personal (Dwelling Fire) (PLA)+5.2%122,679$177,174,714
17-16967Property/Personal (Dwelling Fire) Wind Only (CA)+4.6%16,454$39,027,800
17-17210Mobile Homeowners Multi-Peril (PLA)+3.9%18,512$15,874,244
17-17211Mobile Homeowners Wind Only (CA)+9.8%3,931$3,539,489
17-17409Mobile Homeowners (Dwelling Fire) (PLA)+7.1%32,027$13,445,569
17-17410Mobile Homeowners (Dwelling Fire) Wind Only (CA)+10.0%428$367,453
17-18043Commercial Property Residential Multi-Peril (Condo Assn.) (CLA)+4.8%954$28,957,369
17-18044
Commercial Property Residential Multi-Peril (Ex. Condo Assn.) (CLA)
+4.6%1,030$15,962,020
17-18234
Commercial Property Non-Residential Multi-Peril (CLA)
+8.1%1,001$6,958,306
17-18869
Commercial Property Residential Wind Only (Condo Assn.) (CA)
+10.1%2,236$40,038,845
17-18870
Commercial Property Residential Wind Only (Ex. Condo Assn.) (CA)
+9.8%2,010$16,944,986
17-18965
Commercial Property Non-Residential Wind Only (CA)
+9.4%8,701

$69,815,949

 

File Log #

Overall
Proposed
Change

AccountProposed Rate Level Effect by
Territory and Country
17-16826+6.7%Homeowners Multi-Peril (PLA)HO-3, HO-4, HO-6 (PLA)
17-16827+1.7%Homeowners’ Multi-Peril (CA)HO-3, HO-4, HO-6 (CA)
17-16966+5.2%Property/Personal (Dwelling Fire) (PLA)DP-1, DP-3 (PLA))
17-16967+6.3%Property/Personal (Dwelling Fire) Wind Only (CA)DP-3 (CA)
17-17210+3.9%Mobile Homeowners Multi-Peril (PLA)MHO-3, MHO-4 (PLA)
17-17211+9.8%Mobile Homeowners Wind Only (CA)HO-3 (CA)
17-17409+7.1%Mobile Homeowners Physical Damage (CA)MHPD – Dwelling (CA)
17-17410+10%Mobile Homeowners Physical Damage Wind Only (PLA)MHPD – Dwelling (PLA)
17-18043+4.8%Commercial Residential Multi-Peril (CLA)CRM Non-Condo (CLA)
17-18044+4.7%Commercial Residential Multi-Peril (Condo Assn.) (CLA)CRM Condo (CLA)
17-18234+8.1%Commercial Residential Multi-Peril(CLA)CNRM (CLA)
17-18869+10.3%Commercial Residential Wind Only (CA)CRW Non-Condo (CA)
17-18870+9.8%Commercial Residential Wind Only Condo (CA)CRW Condo (CA)
17-18965+9.4%Commercial Non-Residential Wind Only (CA)CNRW (CA)