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Press Release

Office Issues Citizens Rate Filing Order
Monday, September 09, 2013
Contact Info:

Amy Bogner
(850) 413-2515                             
Amy.Bogner@floir.com

TALLAHASSEE, Fla.The Florida Office of Insurance Regulation (Office) has issued an Order concerning the Homeowners’ and Dwelling Fire rates for Citizens Property Insurance Corporation (Citizens).  The combined overall statewide average rate increase requested by Citizens for Homeowners was 7.9%. The Office set the rate at 6.3%. Minor modifications were made to Citizens recommended rates as detailed in the Order.
 
The effective dates for the new rates on both the Homeowners’ and Dwelling Fire accounts are January 1, 2014 for new and renewal policies within the Personal Lines Accounts, and February 1, 2014 for new and renewal policies within the Coastal Accounts.
 The chart below provides the overall statewide average rate changes established by the Office for each account individually:
(Incl. Sinkhole and FHCF Cash Buildup Factor Changes)
Account
Original Rate Requested
Estimated Rate Established
HOMEOWNERS
#13-13047
(Coastal Account – Wind Only)
9.8% increase
10.5% increase
HOMEOWNERS
#13-13048

(Personal Lines Account)
7.3% increase
4.4% increase
HOMEOWNERS COMBINED
#13-13047 & #13-13048
(Coastal & Personal Lines Accounts)
7.9% increase
6.3% increase
DWELLING FIRE
#13-13335

(Coastal Account – Wind Only)
10.5% increase
10.5% increase
DWELLING FIRE
#13-13336
(Personal Lines Account)
9.9% increase
9.1% increase
COMMERCIAL LINES NON-RESIDENTIAL PROPERTY
#13-13467
(Coastal Account – Wind Only)
10.0% increase
10.0% increase
Rate filings can be accessed via the I-File Forms & Rate Searchsystem using the following search criteria in either the “Quick Search” or “Advanced Search” options: file log numbers or by entering “Citizens Property Insurance Corporation” as the “company name”. When the selection appears, scroll to the bottom of the results page for the most recent filing information.
For more information, visit the Citizens Public Rate Hearing page on the Office’s website.
About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets.  For more information about the Office, please visit
www.floir.com or follow us on Twitter @FLOIR_comm.
 
 
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Contact Info:

Amy Bogner
(850) 413-2515                             
Amy.Bogner@floir.com

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