Tag: Florida homeowners insurance

Citizens Property Insurance gets approval for rate hikes

S.Vagus
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

S.Vagus
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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Citizens Insurance rejects consumer benefits

Nordstrom
Florida Insurance News - Citizens insurance

Report reveals Citizens Insurance rejections Florida’s Citizens Insurance has rejected more than 90,000 reports from commissioned inspectors that identified consumers to be eligible for property insurance discounts, according to an inspection from The Palm Beach Post. The Post inspected 225,000 records concerning the matter and found that Citizens Insurance had been rejecting these cases based on an attempt to cut costs and boost revenue. The state-run insurance group has been struggling with financial trouble for several years and is being pressured by government officials to solve these problems. Inspections part…

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Citizens Property Insurance prepares for Tropical Storm Isaac

S.Vagus
Tropical Storm Isaac

Citizens Property Insurance begins preparations for a potentially powerful storm Florida’s Citizens Property Insurance is preparing for the coming of Tropical Storm Isaac. The storm has lashed the Florida Keys, causing a modest amount of damage in the region, but is making its way further into the Gulf of Mexico. The storm is expected to make landfall, where the National Hurricane Center suggests that it could gain hurricane strength. The government agency has issued warnings stretching from Louisiana to parts of the Florida panhandle, encouraging states and consumers to prepare…

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Homeowners insurance company taking a look at its own expenses

aetna faces insurance fine

Citizens in Florida is examining its salary, travel, and management costs. Citizens currently faces $1.9 billion in expenses every year at the three corporate locations across the state, in order to provide homeowners insurance to policyholders throughout Florida. The leaders of that state backed insurer are now looking into those costs. This investigation includes both the pay and the benefits that are being received by its employees, as well as the costs associated with travel, and the expenses relating to its overall structure of management. Simultaneously, these company heads are…

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