Florida’s Citizens Property Insurance Warns Of Rate Increases

Tuesday, March 8th, 2016 Legislation & Regulation Property Risk Management

Florida’s state-run insurer is warning of 10 percent annual rate increases for years to come in Palm Beach and other South Florida counties because of what its CEO calls a “true crisis” in water-damage claims. But such losses actually decreased 20 percent since 2013, records requested by The Palm Beach Post show. Citizens Property Insurance Corp. officials say yes, but its number of customers is declining even more rapidly so the costs — down to $299 million in 2015 from $378 million in 2013 — have a much bigger proportional impact on rates.

Claims Pages Staff Writers are dedicated professionals covering a broad spectrum of insurance topics, including auto, catastrophe, education & training, fraud, legislation, liability, life & health, litigation, property, risk management, technology, underwriting, and workers' compensation. With over 25 years of distribution, our publication brings you accurate and timely information to keep you informed and ahead in the claims industry.

External References & Further Reading

Mid-America Catastrophe ServicesGRIP(Globe Roof Inspection Program)Churchill Claims Services

  Recent Provider Listings

Serving Santa Clara County
California Contractors General Drywall Contractors Water Damage
Serving Kentucky Statewide - CLM Member
Kentucky Attorneys & Law Firms
Serving Massachusetts, Connecticut & Rhode Island
Connecticut Massachusetts Rhode Island Fire Investigations