May 13, 2024
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Citizens Insurance tops 741,000 policies
News Service of Florida | 12/13/2021
The state-backed Citizens Property Insurance Corp. continued to grow in November, adding more than 15,000 policies, according to newly released data.
Citizens had 741,420 policies as of Nov. 30, up from 725,942 at the end of October. Homeowners have poured into Citizens as financially struggling private insurers have dropped policies and sought major rate increases.
As illustrations of the growth, Citizens had 532,788 policies on Nov. 30, 2020, and 444,323 policies on Nov. 30, 2019, according to data posted on the Citizens website.
Many state leaders have long sought to move policies out of Citizens into the private market, at least in part because of financial risks to the state.
