Live Insurance News

Citizens insurance faces massive public outcry at Miami workshop

July 23, 2012April 30, 2013

Insurer intends to increase rates by 7.5 percent in 2013. The Citizens Insurance board received an angry scolding from homeowners and lawmakers alike during a Miami workshop in which it announced its intentions to increase its rates by 7.5 percent, on average, next year. The proposed rates increase would affect premiums across the state. Though almost all homeowners with Citizens Insurance coverage would find themselves with higher premiums, some areas would be harder hit than others. South Florida, for example, will have higher increases than other regions if the proposed…

Citizens Insurance considers Manatee policy rate increases

June 20, 2012April 30, 2013

Florida homeowners insurance, Citizens Property

This would mean higher premiums for approximately 1.5 million policyholders in Florida. The Citizens Insurance state run company in Florida is surrounded by controversy, while some feel that it is vital to the state and others are just waiting for the bottom to fall out. The company sells about 1,000 new policies every week, but may be headed toward financial ruin. Many experts are saying that though it is growing very rapidly, this massive insurer could face disaster if even a single major storm makes its way through the state,…

New Louisiana bill helps coastal parish Citizens insurance customers

June 7, 2012June 7, 2012 H. Cutner

Latest state insurance news provides a bit of relief to these policyholders. Residents along the coast of Louisiana who have policies with Citizens insurance – the insurer operated by the state – can now expect a 10 percent reduction on their premiums over the next three years due to recent legislation that has been sent to Governor Bobby Jindal by the state lawmakers. Only hours before the annual session ended on Monday, Senate Bill 204 was passed by the Legislature. It is hoped that Senator Dan Morrish (R-Jennings)’s bill will…