Florida’s Citizens Launches Program to Shift Policies
Florida’s largest insurer is launching a new program to shift policies over to other companies.
The state-created Citizens Property Insurance on Monday will start requiring new customers to use a property insurance clearinghouse.
The program requires insurance agents to look at offers from four private insurers before allowing someone to purchase a Citizens policy.
A customer is ineligible for Citizens if one of the insurers charges premiums that are within 15 percent of Citizens rates.
State legislators authorized the clearinghouse to help reduce the number of people insured by Citizens. Citizens has more than 1 million policyholders.
Other insurers will be added to the clearinghouse later this year. Citizens plans by the middle of 2014 to require that current customers go through the clearinghouse before their policies are renewed.
- Report: Property Claims Face Delays, Are Growing More Complex
- Anxiety Over Gas Prices Points to ‘Looming EV Comeback’ in US
- Before the Nuclear Verdict: Rethinking How Liability Claims Are Managed
- Will California’s New Smoke Claims Law Create a Recovery Bottleneck?
- Severe Convective Storms: Risk, Field Reality and the Path to Resilience
- The Great Hemp Reset: How the Federal Ban on Intoxicating Hemp Products Will Reshape Risk and Coverage
- The Nation’s Insurance Laboratory: What Liability Trends in California Mean for the Rest of the Country
- Torrential Rain Brings Deadly Floods Back to East Coast of Spain