United Insurance acquires policies from Citizens

Insurance Industry News Deal

Florida’s Citizens bequeaths policies to United Insurance Florida’s Citizens Properly Insurance has been working to depopulate itself of the vast majority of its policies in recent months. The insurer, which is run by the state, is being pressured by lawmakers to address many of the issues that have pushed it to the verge of financial disaster. This pressure has led Citizens to take measures to shed policies, such as raising rates on coverage. This week, United Insurance has announced that it has assumed a significant number of these policies. United…

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Citizens Property Insurance gets approval for rate hikes

Florida homeowners insurance, Citizens Property

Florida regulators approve rate increase proposal from Citizens Property Insurance Florida Businesses and homeowners can expect to see their insurance premiums jump by at least a double-digit sum early next year. Florida’s Citizens Property Insurance has been granted approval for a rate increase that will take effect January 1, 2013. The insurer’s rate proposal was approved by the Florida Office of Insurance Regulation this week. Though there are roughly three months before the new rates take effect, policyholders are up in arms over the approval of the rate hike. Homeowners…

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Florida’s Citizens Property Insurance continues to shed policyholders

property insurance news

Citizens Property Insurance wants to see more policies taken over by private providers It is no secret that Florida’s Citizens Property Insurance has been strapped with serious financial problems in recent years. The state-run insurance group is often considered the last and best place to find affordable insurance coverage for Floridians who inhabit the natural disaster danger zone. Citizens Property Insurance attained this status through offering policies that were well below the average cost of those coming from private insurance groups. While this has been well received by consumers, this…

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