Tens of thousands of customers of state-owned Citizens Property Insurance Corp. are getting a stunning surprise in their mailboxes. It’s a letter from Citizens’ “Depopulation Unit” stating their policies have been assumed by a private-market company. Cause for celebration? Not if the private company’s estimated annual premium is higher than what the policyholder is paying Citizens. Delores Smerkers, a Davie retiree, said her Citizens policy renewed in July for $5,523 — $650 more that what she paid last year.
Stunned By A Citizens Insurance ‘depopulation’ Letter? Here’s What You Need To Know.
Ron Hurtibise, South Florida Sun-Sentinel
Sat, 09/23/2023 - 11:29pm
Topics: property insurance corp delores smerkers davie safepoint insurance co that s related articles it s removal november florida peninsula monarch slide southern oak letters in smerkers deerfield beach jeff torrey tolley policyholders steve rogosin plantation-based brian murphy brightway insurance palm beach gardens so what s they ve removing other and i agents september nov if ron hurtibise south florida sun sentinel twitter citizens i i in it s smerkers july safepoint a business targeted october florida oct peltier i murphy murphy murphy citizens company renewal year market state rates don selected stay coverage number assumed pay offer renew approved threshold surcharges won months current costs phone people assessment renewed cost change major offers owe set rate years enacted worked efforts customers opt tens place reason remove transfer
BING NEWS:
- Citizens policy count decreases
Under the depopulation program, private insurers receive approval from state regulators to take batches of Citizens policies.
05/29/2024 - 3:33 am | View Link - Florida-Backed Citizens Policy Count Decreases
The state’s Citizens Property Insurance Corp. saw a nearly 13,000-customer decrease last week as private insurers could take policies through a “depopulation” ...
05/29/2024 - 1:40 am | View Link - The policy count goes down for Florida’s Citizens Property Insurance
Citizens Property Insurance had a nearly 13,000-customer decrease last week as private insurers could take policies through “depopulation.
05/29/2024 - 12:35 am | View Link - With worst hurricane season forecast, insurance industry supplies some rare good news
With the worst hurricane season on record already being forecasted, Floridians are learning that a stable insurance industry is good news this summer.
05/28/2024 - 10:10 pm | View Link - In run-up to hurricane season, Citizens gains policies despite positive market trends
As of Jan. 31, Citizens had 1.16 million policies in force. As of May 17, that’s risen to 1.2 million policies. But Citizens officials aren’t overly concerned, noting that it tends to add policies ...
05/27/2024 - 9:30 pm | View Link - More
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