Florida’s Citizens Property Insurance Issues 163-Page Rate Information Document Prior to Two-Day Meeting Series

Jun 24, 2013

In advance of its two-day series of meetings starting tomorrow, June 25, 2013, Florida’s Citizens Property Insurance Corporation (“Citizens”) has prepared a 163-page “2014 rate kit” document containing comprehensive information about its 2014 rate filing.

To view the document, click here.

Associated Press reported in Insurance Journal today that, if approved by the Board, and then by the Florida Office of Insurance Regulation (“OIR”), Citizens’ overall statewide rates will increase next January for approximately 1.26 million policyholders by 6.9 to 8.8 percent.

For 2014, Citizens’ Board of Governors is expected to once again submit two sets of personal residential rates to the OIR for approval. The first set was calculated using Citizens’ risk load. The second set uses the OIR-approved risk load. Both rate sets are broken down by policy type and territory, and included in the aforementioned rate kit.

Additional information on risk loads and answers to other questions about Citizens’ rates and premiums are in the aforementioned kit, along with several documents that provide data on Citizens’ costs and projected rate need for 2014.

To access complete information about each meeting including call-in details, click on the hyperlinks below.

Tuesday, June 25

Market Accountability Advisory Committee Meeting
8:30-10:00 a.m.

Consumer Services Committee Meeting
10:30-11:30 a.m.

Audit Committee Meeting
12:30-1:30 p.m.

Finance and Investment Committee Meeting
2:00-3:00 p.m.

Actuarial and Underwriting Committee Meeting
3:30-6:00 p.m.

Wednesday, June 26

Board of Governors Meeting
9:00 a.m. – 3:00 p.m.

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

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