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Press Release

Office Issues Citizens Rate Filing Order
Tuesday, September 8, 2015
Contact Info:

​Amy Bogner
(850) 413-2515

TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (Office) has established the 2016 rates for Citizens Property Insurance Corporation (Citizens).  The overall estimated statewide average rate changes are shown in the chart below and includes no rate increases for sinkhole coverage. The Order sets the rates for Citizens multi-peril and coastal Homeowners, Dwelling Fire, Mobile Homeowners and Mobile Homeowners Dwelling Fire accounts. 

The Office modified some of Citizens’ recommended rates to address key issues cited as causes for increasing homeowners’ insurance costs for policyholders in South Florida and on the coast. These included Citizens’ purchase this year of more private reinsurance (insurance for insurance companies) and pre-event financing (a short-term loan to recover claims costs payable by the Florida Hurricane Catastrophe Fund). Citizens answered questions and provided further clarification on these issues, as well as, the surge in water loss trends in three South Florida counties at a public rate hearing on August 25, 2015. The Office’s subsequent findings are described in more detail within the Order.
The effective date for both new and renewal rates within the Personal Lines Account (PLA) and Coastal Account (CA) is February 1, 2016.
The chart below provides the overall statewide average estimated rate changes established by the Office for each account individually:
(Incl. FHCF Cash Buildup Factor Changes)
Original Rate Requested
Estimated Rate Established*
Homeowners Multi-Peril  (PLA)
1.3% increase
1.8% increase
Homeowners Multi-Peril Wind Only (CA)
9.0% increase
8.3% increase
Property/Personal Dwelling Fire (PLA)
0.9% decrease
1.5% decrease
Property/Personal Dwelling Fire Wind Only (CA)
9.5% increase
9.1% increase
Mobile Homeowners Multi-Peril Wind Only (CA)
10.4% increase
10.4% increase
Mobile Homeowners Multi-Peril (PLA)
5.3% decrease
6.4% decrease
Mobile Homeowners (Dwelling Fire) (PLA)
4.1% decrease
6.8% decrease
Mobile Homeowners (Dwelling Fire) Wind Only (CA)
9.8% increase
9.9% increase

*This is an estimate of the rate effect on earned premiums determined using selected changes from the in-force policy distributions and the rates in the Order.
Rate filing decisions for the commercial residential and commercial non-residential accounts are still pending.
Rate filings can be accessed via the “I-File Forms & Rate Search” system using the following search criteria in either the “Quick Search” or “Advanced Search” options: file log numbers or by entering “Citizens Property Insurance Corporation” as the “company name”. When the selection appears, scroll to the bottom of the results page for the most recent filing information. 
Visit the Citizens Public Rate Hearing webpage on the Office’s website for additional information.​
Contact Info:

​Amy Bogner
(850) 413-2515

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. ​​