Citizens Policy Count Stands at 1.164M
That’s the total as of last week and due to “depopulation,” it’s about the same as the 1.166 million policies the state’s insurer of last resort had in late Jan.
TALLAHASSEE, Fla. – The state’s Citizens Property Insurance Corp. had about 1.164 million policies on Feb. 23, 2024, a total that was little changed from the end of January, according to data posted on its website.
Citizens had nearly 1.166 million policies on Jan. 31.
Citizens, which was created as an insurer of last resort, has become the state’s largest property insurer during the past three years as private insurers have dropped customers and raised rates because of financial problems.
Citizens reached as many as 1.412 million policies in fall 2023 before seeing reductions because of what is known as a “depopulation program,” which involves private insurers seeking approval from state regulators to assume policies from Citizens. Another round of the depopulation program took place last week.
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