Take-out Companies

Information on Companies Recently Approved to Remove Policies from Citizens Property Insurance Corporation

The information below is provided by the Office of Insurance Regulation for the purpose of allowing Citizens' policyholders and their agents to review the financial status of companies recently approved by the Office to remove policyholders from Citizens.

These companies, called "take-out companies," have all met or exceeded Florida's rigorous statutory requirements to attain a license from the Office to sell property insurance in the state. It is intended that this information be used to assist in making a well-informed decision on whether a policyholder wishes to accept or deny a take-out offer.

If a policy is selected for removal, the take-out company must first notify the policyholder's agent, who may refuse to allow the policy to be removed from Citizens. If the agent refuses, the policyholder will be notified by Citizens that the agent refused to allow removal of the policy and that the policyholder still has the choice to accept the take-out offer.

The Office encourages policyholders to talk to their agents, to call the take-out company or visit its Web site if they have questions or would like more information. Citizens policyholders may also visit the "depopulation" section of the Citizens Web page and view a wide variety of current and past take-out documents.

The information on this page is based upon information submitted by these insurance companies to the Office. The Office does not warrant the accuracy or completeness of this information.