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Press Release

Public Hearing Set In Pasco For Citizens Sinkhole Rates
Thursday, December 14, 2006
Tallahassee (December 14, 2006)  The Florida Office of Insurance Regulation (Office) has scheduled a public hearing on rate filings submitted by Citizens Property Insurance Corporation (Citizens) proposing a decrease in sinkholes rates statewide.  The hearing for these rate filings will be held in Pasco County at Spartan Manor, 6121 Massachusetts Avenue, New Port Richey.  The hearing will begin at 5:00 p.m. on Monday, December 18, 2006.
Citizens filed to reduce its sinkhole rates an average of 7.6 percent statewide in Florida following legislative changes brought about in 2006 by Senate Bill 1980.  The legislation required Citizens to allow customers to choose levels of sinkhole coverage less than the current standard, which could ultimately lead to a slight decrease in rates.
The requested rates are not uniform and some areas in the state are subject to higher or lower rate changes.  Florida law requires that the Office hold public hearings on rate filings requesting a statewide average increase of 15 percent or higher, or for any reason the Office deems necessary.
The hearing is open to the public, and input from interested parties is welcomed.  The hearing will be taped by the Florida Channel and video will be available online within 3 business days at www.floir.com under the Public Rate Hearings portion of the website.  Those unable to attend the public hearing are welcome to forward comments to the Office at ratehearings@fldfs.com.  The subject lines of the emails should read Citizens Sinkhole Hearing.
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this hearing should telephone Sam Coskey at (850) 413-2616 or e-mail him at sam.coskey@fldfs.com at least 48 hours prior to the hearing.
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