Citizens Property Insurance Corporation (Citizens) Public Rate Hearing
The Florida Office of Insurance Regulation (OIR) conducted a rate hearing to receive public comment for Citizens’ proposed rate changes at 5:00 p.m. on Thursday, March 14, 2019. The hearing was held at Florida
International University’s Kovens Conference Center (Biscayne Bay Campus) located in North Miami, Florida.
The purpose of the public hearing was to discuss Citizens’ proposed rate changes for its business in the Coastal Account (CA), Commercial Lines Account (CLA), and the Personal Lines Account (PLA).
These accounts included, but were not limited to: Commercial Property, Homeowners, Mobile Homeowners, and the Dwelling Fire lines of business.
ADDITIONAL HEARING INFORMATION
- Agenda
- Hearing Notice
- Media Advisory
- Video
REVISED PROPOSED RATE LEVEL EFFECTS
On June 19, Citizens announced that their Board had approved revised 2019 rates which show an impact of Assignment of Benefits (AOB) reforms. The revised proposed Citizens rate filings listed below can
be accessed via the IRFS Forms & Rates Filing Search system by using the following search criteria: file log numbers (see chart below)
or by entering “Citizens” as the “company name” in the “Quick Search” tab. Scroll down to the bottom of the results page for the most recent filing information.
File Log # |
Overall
Proposed
Rate Change |
Account |
Proposed Rate Filing
Exhibits
(by county, where
applicable) |
| 19-123770 |
2.6% increase |
Homeowners Multi-Peril (PLA) |
HO-3, HO-4, HO-6, Summary |
| 19-123769 |
8.5% increase |
Homeowners Wind Only (CA) |
HO-3, HO-4, HO-6, Summary |
| 19-123899 |
8.5% increase |
Property/Personal (Dwelling Fire) (PLA) |
DP-1, DP-3, Summary |
| 19-123901 |
8.0% increase |
Property/Personal (Dwelling Fire) Wind Only (CA) |
DP-3, Summary |
| 19-123930 |
0.8% increase |
Mobile Homeowners Multi-Peril (PLA) |
MHO-3, MHO-4, Summary |
| 19-123932 |
9.8% increase |
Mobile Homeowners Wind Only (CA) |
MHO-3, Summary |
| 19-123951 |
8.0% increase |
Mobile Homeowners (Dwelling Fire) (PLA) |
MHO-Dwelling, Summary |
| 19-123952 |
9.6% increase |
Mobile Homeowners (Dwelling Fire) Wind Only (CA) |
MHO-Dwelling, Summary |
| 19-123233 |
5.3% increase |
Commercial Property Residential Multi-Peril (Condo Assn.)(CLA) |
Summary |
| 19-123232 |
5.0% increase |
Commercial Property Residential Multi-Peril (Ex. Condo Assn.) (CLA) |
Summary |
| 19-123238 |
5.0% increase |
Commercial Property Non-Residential Multi-Peril (CLA) |
Summary |
| 19-123239 |
10.5% increase |
Commercial Property Residential Wind Only (Condo Assn.) (CA) |
Summary |
| 19-123240 |
10.0% increase |
Commercial Property Residential Wind Only (Ex. Condo Assn.) (CA) |
Summary |
| 19-123271 |
10.0% Increase |
Commercial Property Non-Residential Wind Only (CA) |
Summary |
There are no proposed rate changes for Sinkhole coverage and the requested rate increases in the chart above are not uniform. The effective date of the proposed rate changes for all three accounts
(Coastal, Commercial Lines, and Personal Lines) is December 1, 2019, for new and renewal business.
ORIGINAL PROPOSED RATE LEVEL EFFECTS
The proposed Citizens rate filings listed below can be accessed via the IRFS Forms & Rates Filing system by using the following search criteria: file log numbers
(see chart below) or by entering “Citizens” as the “company name” in the “Quick Search” tab. Scroll down to the bottom of the results page for the most recent filing information.
File Log # |
Overall
Proposed
Rate Change |
Account |
Proposed Rate Filing
Exhibits
(by county, where
applicable) |
| 19-00810 |
8.5% increase |
Homeowners Multi-Peril (PLA) |
HO-3, HO-4, HO-6, Summary |
| 19-00811 |
8.7% increase |
Homeowners Wind Only (CA) |
HO-3, HO-4, HO-6, Summary |
| 19-00843 |
8.7% increase |
Property/Personal (Dwelling Fire) (PLA) |
DP-1, DP-3, Summary |
| 19-00844 |
8.2% increase |
Property/Personal (Dwelling Fire) Wind Only (CA) |
DP-3, Summary |
| 19-00931 |
1.6% increase |
Mobile Homeowners Multi-Peril (PLA) |
MHO-3, MHO-4, Summary |
| 19-00932 |
9.8% increase |
Mobile Homeowners Wind Only (CA) |
MHO-3, Summary |
| 19-00955 |
8.0% increase |
Mobile Homeowners (Dwelling Fire) (PLA) |
MHO-Dwelling, Summary |
| 19-00956 |
9.6% increase |
Mobile Homeowners (Dwelling Fire) Wind Only (CA) |
MHO-Dwelling, Summary |
| 19-00251 |
5.3% increase |
Commercial Property Residential Multi-Peril (Condo Assn.)(CLA) |
Summary |
| 19-00252 |
5.0% increase |
Commercial Property Residential Multi-Peril (Ex. Condo Assn.) (CLA) |
Summary |
| 19-00275 |
5.0% increase |
Commercial Property Non-Residential Multi-Peril (CLA) |
Summary |
| 19-00387 |
10.5% increase |
Commercial Property Residential Wind Only (Condo Assn.) (CA) |
Summary |
| 19-00388 |
10.0% increase |
Commercial Property Residential Wind Only (Ex. Condo Assn.) (CA) |
Summary |
| 19-00470 |
10.0% increase |
Commercial Property Non-Residential Wind Only (CA) |
Summary |
There are no proposed rate changes for Sinkhole coverage and the requested rate increases in the chart above are not uniform. The effective date of the
proposed rate changes for all three accounts (Coastal, Commercial Lines, and Personal Lines) is September 1, 2019.
PUBLIC COMMENTS/TESTIMONY
The general public is welcome to submit comments about Citizens’ revised 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 5:00 p.m. (Eastern Time) on July 17, 2019. Under Florida law, written communications to the OIR are public record and subject to disclosure, including being available to
the public and media. To learn more, visit the OIR’s Internet Privacy Policy.
CONTACT INFORMATION
Communications Office
Main Press Line: (850) 413-2515
Email: press@floir.com