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Press Release

Office Issues Citizens Rate Filing Order
Friday, September 5, 2014
Contact Info:
Contact Info:
Harvey Bennett                       Amy Bogner
(850) 413-2515                       (850) 413-2515

TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (Office) has established the 2015 rates for Citizens Property Insurance Corporation (Citizens), Florida’s largest property insurer. Overall, the statewide average homeowners rate will fall 3.7% compared to the 3.4% decrease requested by Citizens. The Order sets rates for Citizens Homeowners’, Dwelling Fire, Mobile Homeowners and Mobile Homeowners Physical Damage accounts.
 
The effective date for both new and renewal rates within the Personal Lines Account and Coastal Account is February 1, 2015. 
 
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 MULTI-PERIL
#14-13202
(Personal Lines Account)
-5.8% decrease
-6.1% decrease
HOMEOWNERS MULTI-PERIL 
#14-13203

(Coastal Account – Wind Only)
+3.8% increase
+3.8% increase
HOMEOWNERS COMBINED
#14-13202 & #14-13203

(Personal Lines and Coastal Accounts)
-3.4% decrease
-3.7% decrease
PROPERTY/PERSONAL DWELLING FIRE
#14-13383

(Personal Lines Account)
-4.5% decrease
-4.7% decrease
PROPERTY/PERSONAL DWELLING FIRE
#14-13384
(Coastal Account – Wind Only)
+6.8% increase
+6.6% increase
MOBILE HOMEOWNERS
#14-13667
(Coastal Account – Wind Only)
+8.2% increase
+8.2% increase
MOBILE HOMEOWNERS MULTI-PERIL
#14-13668
(Persona Lines Account)
-4.3% decrease
-4.6% decrease
MOBILE HOMEOWNERS PHYSICAL DAMAGE ONLY (DWELLING FIRE) MULTI-PERIL
#14-13749
(Personal Lines Account)
-4.3% decrease
-4.8% decrease
MOBILE HOMEOWNERS PHYSICAL DAMAGE ONLY (DWELLING FIRE)
#14-13751
(Coastal Account – Wind Only)
+8.6% increase
+8.6% increase
 
The Office reached its decision following a 45-day deliberative process, which included a public hearing conducted on August 27, 2014 in Tallahassee, Florida and feedback provided by interested parties. Rate filing decisions for the commercial residential and commercial non-residential accounts are still pending.
 
Rate filings can be accessed via the “I-File Forms & Rate Search” system 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 webpage on the Office’s website.

Who:
What:
When:
Where:
Contact Info:
Contact Info:
Harvey Bennett                       Amy Bogner
(850) 413-2515                       (850) 413-2515

About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation 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 and Facebook

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