Citizens October 20 Public Rate Hearing Webcast Live On Florida Channel; High-Risk Rate Hearing Scheduled For November 10
Oct 19, 2009
The Florida Office of Insurance Regulation will hold a public rate hearing tomorrow, October 20, 2009 regarding various rate increases requested by Citizens Property Insurance Corporation for its Personal and Commercial Lines Accounts (“PLA/CLA”), as well as the Mobile Homeowners Physical Damage Accounts. A separate hearing on Citizens High-Risk Account (“HRA”) rate increases is scheduled for November 10, 2009.
If approved, the rate increases will become effective on January 1, 2010 for all new and renewal policies.
To view the complete hearing agenda, click here. To view Citizens’ rate filings by each line of business, click here.
Tomorrow’s hearing begins at 9 a.m. and can be viewed live on the Florida Channel by clicking here.
A Florida Office of Insurance media advisory listing statewide average increases for each account type is reprinted below.
Should you have any questions or comments, please contact Colodny Fass.
Media Advisory – Public Rate Hearing for Citizens Property Insurance Corp.
WHAT: Public Rate Hearing for Citizens Property Insurance Corp.
Citizens Property Insurance Corporation has submitted proposed rate increases for their Personal Lines Accounts (PLA):
Homeowners: 5.4%
Dwelling Fire: 8.8%
Mobile Homeowners: 1.8%
As well as for the Commercial Lines Accounts (CLA) and Mobile Homeowners Physical Damage Accounts:
Mobile Home Physical Damage: 2.1%
Commercial Property Residential-Condo Assoc.: 10.1%
Commercial Property Residential-Ex-wind-Condo Assoc.: 10.1%
Please note: These are statewide averages. In addition, this hearing does not encompass the HRA (High Risk Accounts); A hearing for the HRA is scheduled for Nov. 10.
WHEN: October 20, 2009 9:00 a.m.
WHERE: Senator Jim King Committee Room (401 Senate Office Building) Tallahassee, Florida (adjacent to The Capitol)
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