Florida Office of Insurance Regulation Schedules Citizens Property Insurance Rate Hearing For August 18

 

The Florida Office of Insurance Regulation (“OIR”) announced today, August 11, 2016, that it will conduct a rate hearing in Tallahassee on August 18 at 9 a.m. (ET) to receive public comment on Citizens Property Insurance Corporation’s (“Citizens'”) proposed rate changes for its business in the Multi-Peril and Wind Only Coastal Account (“CA”), Commercial Lines Account (“CLA”), and the Personal Lines Account (“PLA”).  

These accounts include, but are not limited to:  Commercial Property, Homeowners, Mobile Homeowners, and the Dwelling Fire lines of business.

The OIR specified that additional filings on behalf of Citizens will be forthcoming and evidence regarding such filings may be received at the hearing.

To view the hearing agenda, click here.

Listed in the chart below are the proposed rate changes (by file log number) as filed by Citizens with the OIR.  These filings can be accessed via the “I-File Forms & Rate Filing Search” system using the following search criteria:  file log numbers (provided below) or by entering Citizens as the “company name” (and scrolling down to the bottom of the results page for the most recent filing information).

 

File Log #	Overall Proposed Rate Change	Account
16-16024	6.9% increase	Homeowners Multi-Peril (PLA)
16-16025	8.2% increase	Homeowners Multi-Peril Wind Only (CA)
16-16575	5.3% increase	Property/Personal (Dwelling Fire)(PLA)
16-16576	9.3% increase	Property/Personal (Dwelling Fire) Wind Only (CA)
16-16785	5.7% increase	Mobile Homeowners Multi-Peril  (PLA)
16-16788	10.3% increase	Mobile Homeowners  Multi-Peril Wind Only (CA)
16-16866	10.5% increase	Mobile Homeowners (Dwelling Fire) Wind Only (CA)
16-16867	3.2% increase	Mobile Homeowners (Dwelling Fire)(PLA)

 

The OIR notes there are no proposed rate changes for Sinkhole coverage and the requested rate changes in the chart above are not uniform.  The effective date of the proposed rate change for all accounts is February 1, 2017, for new and renewal business.

Public comment will be accepted until 5 p.m. on September 1, 2016. 

The Florida Channel will stream the hearing live at www.TheFloridaChannel.org.  A link to a video recording of the hearing will be available on that Web site at a later date.

For more information, visit the OIR’s “Citizens Public Rate Hearing” web page.  

 

 

Should you have any questions or comments, please contact Colodny Fass.

 

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