Florida Office of Insurance Regulation Public Hearing on Recent Citizens Property Insurance Rate Increase Filings Set for September 13 In Tampa
Aug 12, 2011
After substantial media coverage of Citizens Property Insurance Corporation’s (“Citizens”) recent sinkhole rate increase filing, the Florida Office of Insurance Regulation will conduct a public hearing on September 13, 2011 from 4:00 p.m. to 10:00 p.m. to discuss Citizens’ proposed rate increases for its Coastal Account (formerly known as the High-Risk Account), as well as its Personal Lines Accounts (“PLA”). These accounts include, but are not limited to homeowners and dwelling/fire lines of business.
The hearing will take place at the Tampa Convention Center. The Florida Channel also will cover the hearing live on its Web site: http://thefloridachannel.org/.
Citizens’ proposed statewide average rate increases for its homeowners line of business, (including sinkhole) are 12.1 percent for the Coastal Account and 25.4 percent for the PLA Account. The sinkhole coverage increases range from zero percent in Lake County to 2,226.1 percent in Orange County.
A copy of the agenda has not yet been published.
Should you have any questions or comments, please contact Colodny Fass.
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