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Press Release

Office Issues Order Establishing Citizens Commercial Property Rates
Friday, September 30, 2016
Contact Info:

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

TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (Office) has issued an Order establishing the 2017 commercial property rates for Citizens Property Insurance Corporation (Citizens). The overall estimated statewide average rate changes are shown in the chart below. The effective date for both new and renewal rates within the Commercial Lines and Coastal Accounts is February 1, 2017. 

(Incl. FHCF Cash Buildup Factor Changes)
Account
Original Rate Requested
Estimated Rate Established**
Commercial Property Residential Multi-Peril (Condo Assn.) Commercial Lines Account  
#16-18917
4.5% increase
4.5% increase
Commercial Property Residential Multi-Peril (Ex. Condo Assn.) Commercial Lines Account 
#16-18920
5.4% increase
5.4% increase
Commercial Property Non-Residential Multi-Peril
Commercial Lines Account
#16-19213
0.0%
0.0%
Commercial Property Residential Wind Only (Ex. Condo Assn.)
Coastal Account
#16-19498
11.2% increase
11.2% increase
Commercial Property Residential Wind Only (Condo Assn.)
Coastal Account
#16-19500
12.0% increase
11.9% increase
Commercial Property Non-Residential Wind Only
Coastal Account
#16-19522
9.8% increase
9.8% 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 filings can be accessed via the “I-File Forms & Rate Filing 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.​
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Contact Info:

Amy Bogner/Karen Kees
(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​​

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