Citizens’ President Urges State Farm Customers to Call FMAP
Jan 27, 2009
Scott Wallace, President, CEO and Executive Director of Citizens Property Insurance Corporation, issued the statement below today, January 27, 2009 regarding State Farm’s announced plans to withdraw its property insurance business from Florida.
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Statement by Scott Wallace, President, CEO and Executive Director of Citizens Property Insurance Corporation on State Farm Plan to Stop Writing Property Insurance in Florida
TALLAHASSEE, FLA. – “Citizens Property Insurance Corporation will closely monitor the progress of State Farm’s request, filed with the Office of Insurance Regulation, to cease writing property insurance in Florida and to non-renew its existing property insurance policyholders. We will work with the Office and other interested parties to facilitate a smooth transition of as many of these policies as possible to the voluntary market.”
“This plan, if approved by the Office, calls for a two year non-renewal process for all current State Farm property insurance policyholders. As Commissioner McCarty noted in his statement, there are many companies currently writing property insurance throughout Florida. It is our hope that a majority of State Farm’s policies will be absorbed by the private market as offers for private coverage are made over the two-year period.”
“We urge State Farm customers to shop for coverage with local agents who represent other companies. If coverage cannot be found, State Farm customers may contact the Florida Market Assistance Plan (FMAP) at www.fmap.org or by calling (800) 524-9023. FMAP helps consumers find coverage with agents that represent carriers actively writing in Florida. For those who are unable to find coverage in the private market, Citizens will be there.”
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