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The state-backed Citizens Property Insurance Corp. ended May with 883,333 policies. That's a nearly 45 percent increase from a year earlier.
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As private insurers continue to drop customers and pass along rate hikes, the state-backed Citizens Property Insurance Corp. has topped 850,000 policies, according to newly released numbers.
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Sen. Jeff Brandes, a St. Petersburg Republican who has argued for taking aggressive action to deal with Florida’s property-insurance problems, intends to pursue polling lawmakers about holding a special legislative session if House and Senate leaders don’t call a session on the insurance issue.
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Roofing claims, property insurance, and Russian disinvestment: On Tuesday, for the first time in more than six months, the Florida Cabinet actually met in Tallahassee to tackle business on a variety of fronts.
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In the last two decades, efforts have been made to shrink Citizens Property Insurance Corporation, which is backed by Florida taxpayers. However, Citizens is growing rapidly again as lawsuits drive up premiums in the private insurance market.
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A federal judge has blocked the state from enforcing a key part of a new property insurance law designed to combat fraud. It prohibits roofing contractors from advertising to potential customers.
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Governor Ron DeSantis has signed a new property insurance bill into law. The goal behind the measure is to cut down on litigation and stop rising insurance rates, but some question whether the changes will benefit consumers.
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Governor Ron DeSantis says he will approve A bill that aims to fix Florida’s property insurance market. One change would increase the eligibility threshold for new policyholders to be admitted into the state-backed, Citizens property insurance group.
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Citizens Property Insurance is warning if it doesn’t stop writing new policies, it will be back up to insuring close to a quarter of Florida’s housing market. The state-backed company is designed to be used as a last resort for people who can’t find property insurance in the private market. But Barry Gilway warns they’re increasingly becoming the only option.
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Citizens Property Insurance says the number of cases involving AOB or assignment of benefits is down. The company credits the decrease to changes made by…