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Office of Insurance Regulation

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.

Citizens Property Insurance Corporation

 

Guidelines for Companies Interested in Submitting a Take-out Proposal

 

Requirements for Approved Take-out Companies

 

Pending Take-out Requests

Personal Residential Take-outs

There are no companies being considered for the January 26, 2010 personal residential takeout. The Office is now accepting request for approval for the February 16, 2010 personal residential takeout. Please see the Guidelines for Companies Interested in Submitting a Take-out Proposal section for submission deadlines. Please check back for a list of companies requesting approval for this takeout date.

Companies Participating in the Personal Residential Take-out Program:


American Integrity Insurance Company of Florida

 

Argus Fire & Casualty Insurance Company

 

Avatar Property & Casualty Insurance Company

Capitol Preferred Insurance Company

Edison Insurance Company

 

Federated National Insurance Company

 

First Home Insurance Company

 

Florida Peninsula Insurance Company

 

Homeowners Choice Property and Casualty Insurance Company

 

HomeWise Preferred Insurance Company

 

Landmark One Insurance Company

 

Magnolia Insurance Company

 

Northern Capital Insurance Company

 

Northern Capital Select Insurance Company

 

Southern Fidelity Insurance Company

Southern Oak Insurance Company

 

Sunshine State Insurance Company

 

United Property & Casualty Insurance Company

 

Companies Participating in the Commercial Residential Take-out Program:


There are no companies being considered for the March 4, 2010 commercial residential takeout. The Office is now accepting request for approval for the April 6, 2010 commercial residential takeout. Please see the Guidelines for Companies Interested in Submitting a Take-out Proposal section for submission deadlines. Please check back for a list of companies requesting approval for this takeout date.