Homeowners insurance policies are still being dumped by Citizens

Florida Homeowners Insurance

The state backed insurer has said that it believes that it will be able to shrink to a smaller size than previously believed. Citizens Property Insurance has now received another wave of shedding homeowners insurance policies from regulators, and the company has now revealed that it will be able to reduce its size by more than what it had once thought. This latest round could allow the insurance company to shed an additional 93,500 of its policies. The state backed homeowners insurance company can now rid itself to up to…

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Citizens launches new initiative to shed homeowners insurance policies

Florida homeowners insurance, Citizens Property

New initiative may help Citizens send policies to private companies Florida’s Citizens Property Insurance has launched a new initiative that is designed to further depopulate itself of costly homeowners insurance policies. The state-run insurer had been suffering from serious financial issues in the past, which are associated with the state’s exposure to natural disaster and the disasters that had visited the state in the past. Citizens has overcome many of its past issues, but is still working to shed policies and the organization is encouraging policyholders to find coverage from…

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Homeowners insurance from Citizens to be lost by many property owners

Florida homeowners insurance, Citizens Property

By January, there will be tens of thousands of consumers who will no longer be covered by the state-backed company. January is coming ever closer, and by that time the homeowners insurance from Citizens that is currently covering a large proportion of the property owners in the Florida will be shrinking by tens of thousands of policies. By that point, policyholders will no longer have the choice as to whether or not they remain with Citizens. This should not come as a complete surprise to many of the people in…

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Homeowners insurance choices faced by many Florida policyholders

Florida homeowners insurance, Citizens Property

Considerable decisions are ahead in the state as Citizens divests itself of a massive number of policies. Within the next month, there will be almost 400,000 people in Florida who currently have homeowners insurance coverage through Citizens Property Insurance Corp., and who will be receiving notice in the mail from another insurer to advise the policyholders that their coverage will be transferred over to that new company by November 5, 2013. At that point, the policyholders will need to make one of two choices that will be available to them.…

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Homeowners insurance bill in Florida signed by Governor Scott

Florida homeowners insurance, Citizens Property

This will help to reform Citizens so that it will be able to further reduce its massive size. Governor Rick Scott has just signed a Florida bill into law which will allow a huge number of changes to be made to Citizens, the largest homeowners insurance company in the state. One of the goals of the bill is to move more of the policyholders from the state backed insurer into the private market. According to Senator David Simmons (R – Altamonte Springs), who sponsored SB 1770, “It’s a hell of…

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Homeowners insurance at Citizens shedding some weight

Florida homeowners insurance, Citizens Property

Lawmakers have given the state backed insurer the ability to take action to reduce its policyholders. The state backed homeowners insurance company, Citizens, in Florida, will now be reducing its number of policyholders following the approvals that it has recently received from lawmakers. Hundreds of thousands of policies will no longer belong to Citizens but will be shifted to the private market. Certain areas are being affected more heavily than others. Many lawmakers are using this as a kind of pilot program to be able to decide how reforms for…

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Homeowners insurance depopulation continues for Citizens

Florida Homeowners Insurance

Florida-run insurer continues to let go of homeowners insurance policies Florida’s Citizens Property Insurance continues to face significant challenges. The state-run organization has been one of the best, if not the only, places to find affordable homeowners insurance coverage for many Florida residents, especially those living near the coast. Over the past few years, the insurer has been grappling with dubious financial issues that have threatened to make it insolvent. Ordered to address this issue aggressively, the insurer has been actively depopulating itself of policies. 31,000 policies to be taken…

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