Citizens Says Florida Supreme Court Valued Policy Decision Impacts Approximately 200 Pending Lawsuits

Following today’s Florida Supreme Court decisions regarding Florida’s Valued Policy Law, Citizens Property Insurance Corporation issued the statement below regarding pending litigation stemming from 2004 storm surge damage.

To read a summary of the two Supreme Court cases, click here.

Should you have any questions or comments, please do not hesitate to contact this office.

 

To: All interested parties
From: Citizens Property Insurance Corporation

Re: Florida Supreme Court Rules in Flood Damage Case

TALLAHASSEE, Fla. – Citizens Property Insurance General Counsel Perry Cone said Thursday a decision by the Florida Supreme Court should end most litigation stemming from storm surge damage that occurred in 2004.

Cone said for Citizens, approximately 200 lawsuits are impacted by the ruling.

He said Citizens believes it has paid all wind damages to the policyholders involved in the litigation. Plaintiffs in the case took the position that Florida’s valued policy law required Citizens to pay for flood damages. Citizens argued state law did not require such payments.