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Media Advisory

Citizens Property Insurance Corporation (Citizens) Public Rate Hearing
Friday, August 14, 2015
Contact Info:

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

Who:
Citizens Property Insurance Corporation (Citizens)
What:

The Florida Office of Insurance Regulation (Office) will conduct a public hearing to discuss Citizens’ proposed rate changes for its business in the multi-peril and wind only 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 filings on behalf of Citizens will be forthcoming and evidence regarding such filings may be received at the hearing.

Listed in the chart below are the proposed rate changes (by file log number) as filed by Citizens with the Office. These filings can be accessed via the “I-File Forms & Rate Search” system using the following search criteria:  file log numbers (provided below) or by entering Citizens as the “company name” (and scrolling down to the bottom of the results page for the most recent filing information). Furthermore, rate filing summaries for each of the filings listed below are available at: http://www.floir.com/Sections/PandC/ProductReview/CitizensPublicRateHearing2015.aspx.

File Log #
Overall Proposed Rate Change
Account
15-15843
1.3% increase
Homeowners Multi-Peril (PLA)
15-15848
9.0% increase
Homeowners Multi-Peril Wind Only (CA)
15-16013
9.5% increase
Property/Personal (Dwelling Fire) Wind Only (CA)
15-16016
0.9% decrease
Property/Personal (Dwelling Fire) (PLA)
15-16391
10.4% increase
Mobile Homeowners  Multi-Peril Wind Only  (CA)
15-16392
5.3% decrease
Mobile Homeowners Multi-Peril  (PLA)
15-16470
4.1% decrease
Mobile Homeowners (Dwelling Fire)(PLA)
15-16471
9.8% increase
Mobile Homeowners (Dwelling Fire) Wind Only  (CA)
15-17008
5.2% increase
Commercial Property Residential Multi-Peril (Ex. Condo Assn.) (CLA)
15-17009
5.0% increase
Commercial Property Residential Multi-Peril (Condo Assn.) (CLA)
15-17471
9.3% increase
Commercial Property Non-Residential Multi-Peril (CLA)
 
There are no proposed rate changes for sinkhole coverage and the requested rate changes in the chart above are not uniform.  The effective date of the proposed rate change for all three accounts (Coastal, Commercial Lines, and Personal Lines) is February 1, 2016, for new and renewal business.
 
The general public is welcome to submit comments about Citizens proposed rate filings by sending an email to: ratehearings@floir.com with “Citizens” in the subject line of the email. Comments will be accepted for consideration on rate filings until September 1, 2015, as the Office is required, per statute, to render a decision on these filings within two weeks of the hearing. Under Florida law, written communications to the Office are public record and are subject to disclosure, including being available to the public and media if requested. Therefore, it is highly recommended that you carefully consider the type of information provided within a comment, such as personal information (social security numbers, policy information, etc.). To learn more, visit the Office of Insurance Regulation’s Internet Privacy Policy.
 
For more information, visit the Citizens’ Public Rate Hearing webpage on the Office’s website.  A copy of the agenda is also available for review, which includes attendees participating on behalf of the Office and Citizens.  
 
The Florida Channel will stream the hearing live via its website: www.thefloridachannel.org.  A videotaped recording of the hearing will be available on the Office’s website at a later date.
 
Information for Media Attending the Hearing:
Onsite Media Contact: Amy Bogner, Deputy Director of Communications
  • Press packets will be available at the registration table.
  • Room access for set-up begins at 8:15 a.m.
When:
Tuesday, August 25, 2015 9:00 AM
Where:

Senator Jim King Committee Room 
401 Senate Office Building
The Capitol
Tallahassee, FL 32399

Contact Info:

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

About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information about the Office, please visit
www.floir.com or follow us on Twitter @FLOIR_comm and Facebook

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