Commissioner McCarty Issues Order Establishing Citizens Property Insurance Corp.'s Rates
Florida Insurance Commissioner Kevin McCarty today signed an Order
establishing Citizens Property Insurance Corp.'s (Citizens) rates for some lines of business.
The effective date for Personal Lines Account is January 1, 2011; the effective date for High Risk Accounts is February 1, 2011.
A public rate hearing was held in the Tallahassee on September 7, 2010. The final rates are similar to the requested rates, although the Office did make minor adjustments.
The following are the approved statewide average rate increases included in the order:
Personal Lines Accounts (PLA) and High Risk Accounts (HRA):
Homeowners: 10.3 percent approved [Citizens filed 9.7 percent]
Mobile Home: 9.2 percent approved [Citizens filed 7.4 percent]
Mobilehome Physical Damage for Personal Lines Accounts (PLA) and High Risk Accounts (HRA):
Mobile Home: 9.1 percent approved [Citizens filed 6.1 percent]
Additional filings for the Dwelling Fire and Commercial Property were submitted separately. The Office is in the process of reviewing those filings, and a determination will be made in the form of a subsequent Order within the required 45-day period.