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OIR Issues Orders Establishing 2022 Rates for Citizens Property Insurance Corporation

Jun 24, 2022

Tallahassee, Fla. – The Florida Office of Insurance Regulation (OIR) has established the 2022 personal property and commercial property insurance rates for Citizens Property Insurance Corporation (Citizens).

OIR held a virtual public rate hearing to receive public comment on the filings on March 31, 2022. At the hearing, Citizens provided testimony in support of its rate recommendations and received comments from members of the public on the effects of the rate filings. Public comments were accepted for consideration on rate filings until April 14, 2022.

Following a review of the complete record, OIR established rates for Citizens’ Coastal Account (CA), Commercial Lines Account (CLA), and Personal Lines Account (PLA). The effective date for new and renewal rates is September 1, 2022. The Orders are available here.

The charts below provide the overall estimated statewide average rate changes for personal lines accounts, coastal accounts and commercial lines accounts.  

Overall Estimated Statewide Average Rates Changes – PLA & CA

Account Original Rate Requested Established Rate
Homeowners Multi-Peril (PLA & CA) #22-002005 +10.7% +6.4%
Homeowners Wind-Only (CA) #22-002027 +10.0% +9.8%
Property/Personal (Dwelling Fire) Multi-Peril (PLA & CA) #22-002262 +10.8% +8.4%
Property/Personal (Dwelling Fire) Wind Only (CA) #22-002263 +10.4% +10.1%
Mobile Homeowners Multi-Peril (PLA & CA) #22-002505 +10.7% +10.6%
Mobile Homeowners Wind Only (CA) #22-002504 +10.6% +10.6%
Mobile Homeowners Physical Damage Multi-Peril (PLA & CA) #22-002899 +10.8% +10.7%
Mobile Homeowners Physical Damage Wind Only (CA) #22-002900 +10.7% +10.7%

 


Overall Estimated Statewide Average Rates Changes – CLA & CA
Account Original Rate Requested Established Rate
Commercial Residential Property Multi-Peril Condominium Associations (CLA & CA) #22-003394 +8.7% +8.7%
Commercial Residential Property Multi-Peril Excluding Condominium Associations (CLA & CA) #22-003395 +10.2% +10.2%
Commercial Non-Residential Property Multi-Peril (CLA & CA) #22-003509  
+0.7%
 
0.0%
Commercial Residential Property Wind Only Condominium Associations (CA) #22-003648  
+9.9%
 
 
+9.9%
 
Commercial Residential Property Wind Only Excluding Condominium Associations (CA) #22-003649  
+10.6%
 
+10.6%
Commercial Non-Residential Property Wind Only (CA) #22-003765  
+11.0%
 
+11.0%

Rate filings can be accessed via the Insurance Regulatory Filing System (IRFS) using the file log numbers or company name. The most recent filing information will be at the bottom of the results page. Additional information is available on the Citizens public rate hearing webpage.

About the OIR

The Florida Office of Insurance Regulation (OIR) 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 OIR, please visit our website or follow us on Twitter @FLOIR_comm.