jump to main menu jump to subject menu jump to content jump to footer

Citizens Property Insurance Corporation (Citizens) Rate Hearing

On August 27, 2014, the Florida Office of Insurance Regulation (Office) conducted a public hearing at the Florida State Capitol located in Tallahassee, FL.

The purpose of the public hearing was to discuss Citizens’ proposed rate changes for its business in the Coastal Account (CA), Commercial Lines Account (CLA) and the Personal Lines Account (PLA).

These accounts include, but are not limited to: commercial property, homeowners, mobile home and the dwelling/fire lines of business.

ADDITIONAL HEARING INFORMATION


PROPOSED RATE LEVEL EFFECTS:


The proposed Citizens rate filings listed below can be accessed via the I-File Forms & Rates Search system using the following search criteria: file log numbers (see chart below) or by entering "Citizens" as the "company name" in the "Quick Search" tab. Scroll down to the bottom of the results page for the most recent filing information.

File Log #
Overall Proposed
Rate Change
Account Proposed Rate Filing
Exhibits (by County)
14-13202 -5.8%
decrease
Homeowners Multi-Peril (PLA) HO-3, HO-4, HO-6, Summary
14-13203 +3.8%
increase
Homeowners Multi-Peril Wind Only (CA) HO-3, HO-4, HO-6 Summary
14-13383 -4.5%
decrease
Property/Personal (Dwelling Fire) (PLA) Summary
14-13384 +6.8%
increase
Property/Personal (Dwelling Fire) Wind Only (CA) Summary
14-13667 +8.2%
increase
Mobile Homeowners Multi-Peril Wind Only (CA) MHO-3, MHO-4, Summary
14-13668 -4.3%
decrease
Mobile Homeowners Multi-Peril (PLA) MHO-3, MHO-4, Summary
14-13749 -4.3%
decrease
Mobile Homeowners Physical Damage Only (Dwelling) Multi-Peril (PLA) Summary
14-13751 +8.6%
increase
Mobile Homeowners Physical Damage Only (Dwelling) Wind Only (CA) Summary
14-14056 +4.9%
increase
Commercial Property Non-Residential Multi-Peril (CLA) Summary
14-14264 +10.0%
increase
Commercial Property Non-Residential Wind Only (CA) Summary - Class Rated, Summary - Special Class
14-14425 +9.6%
increase
Commercial Property Residential - Excluding Condo Assn. Wind Only (CA) Summary
14-14426 +8.9%
increase
Commercial Property Residential - Condo Assn. Wind Only (CA) Summary
14-15064 +0.5%
increase
Property Commercial Residential – Condo Assn. Multi-Peril (CLA) Summary
14-15157 +0.2%
increase
Property Commercial Residential – Excluding Condo Assn. Multi-Peril (CLA) Summary

The proposed rate changes also include total increases for sinkhole coverage of 0.7% to DP-1 (Dwelling/Fire), 1.5% to DP-3 (Dwelling/Fire), and 2.7% to HO-3 (Homeowners). The requested rate increases are not uniform. The effective date of the proposed rate changes for all three accounts (Coastal, Commercial Lines, and Personal Lines) is February 1, 2015, for new and renewal business.

RATE FILING DECISIONS:


Includes Sinkhole and FL Hurricane Catastrophe Fund Buildup Factor Changes
Date File Log # Account
Total # of
Policies
Earned
Premium
Amount
Estimated
Rate
Established
Order/Exhibits
9/5/2014 14-13202 Homeowners Multi-Peril - (Personal Lines Account) 614,678 $1,302,108,898 -6.1%
decrease
Order
Applies to all eight filings.
  14-13203 Homeowners Multi-Peril Wind Only – (Coastal Account) 199,129 $426,954,214 +3.8%
increase
 
  14-13383 Property/Personal (Dwelling Fire) - (Personal Lines Account) 278,292 $457,974,622 -4.7%
decrease
 
  14-13384 Property/Personal (Dwelling Fire) Wind Only – (Coastal Account) 25,786 $49,028,544 +6.6%
increase
 
  14-13667 Mobile Homeowners Wind Only – (Coastal Account) 6,577 $6,140,332 +8.2%
increase
 
  14-13668 Mobile Homeowners Multi-Peril – (Personal Lines Account) 55,864 $64,958,221 -4.6%
decrease
 
  14-13749 Mobile Homeowners Physical Damage Only (Dwelling Fire) Multi-Peril – (Personal Lines Account) 76,100 $44,220,214 -4.8%
decrease
 
  14-13751 Mobile Homeowners Physical Damage Only (Dwelling Fire) Wind Only – (Coastal Account) 594 $553,193 +8.6%
increase
 

Contact Information:

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