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Michael MolineSeptember 27, 2016

Florida’s property insurer of last resort fears lingering damage from Hurricane Hermine — in the form of third-party claims officials and business leaders blame for escalating premiums. Thus far, of 837 Hermine-related insurance claims, third-party public adjusters filed seven — and five involved assignment of benefits agreements, or AOBs, staff members told a Citizens Property […]

Michael MolineSeptember 15, 2016

Heritage Property & Casualty Insurance Co. has requested premium increases averaging nearly 10 percent on most Florida policy renewals effective on Dec. 1. The new rates would cover the approximately 68,200 homes and condo policies Heritage acquired last year from Citizens Property Insurance Corp. Citizens, the state-run insurer of last resort in Florida, is pursuing […]

Michael MolineSeptember 6, 2016

Florida regulators have agreed to allow private companies take over nearly 70,000 policies from Citizens Property Insurance Corp., the state-run insurer of last resort. “The Office of Insurance Regulation has determined that these companies have the experience and financial security to offer takeout policies for this number of policies,” Michael Peltier, a spokesman for Citizens, […]

Michael MolineAugust 29, 2016

A group representing insurance agents has urged Florida regulators to investigate the solvency of American Colonial Insurance Co., one of the private insurers tapped to take over property coverage from the state’s insurer of last resort. The Professional Insurance Agents of Florida cited a letter dated Aug. 5 in which, the group said, American Colonial informed […]

Joe HendersonMay 31, 2016

Recent headlines heralded the fact that Citizens Insurance, the state-run company for those who can’t get coverage anywhere else, has a lot of cash. With the official opening of hurricane season at hand, company officials say Citizens has enough money in reserve to pay claims if even a catastrophic Category 5 storm hits a major […]

Tag: Citizens Insurance

Citizens Insurance braces for third-party Hermine claims

Insurer seeks 10 percent premium increase on home policies in Florida

Regulators OK shift of 70,000 policies from Citizens Insurance

Agents, facing commission cuts, question American Colonial’s solvency

As hurricane season begins, asking tough questions of Citizens Insurance