The effective date for both new and renewal rates within the Personal Lines Account and Coastal Account is February 1, 2015.
FLOIR also approved last week the removal of up to 425,357 personal residential policies and 2,227 commercial residential polices from Citizens
as part of the state’s ongoing effort to reduce the number of policies in Citizens and transfer them to the private insurance market.Last week’s announcement brings the total number of policies approved for take-outs this year to 894,156 and the actual number of policies removed from Citizens as of August 30 to 124,995. By statute, policyholders may choose to remain covered by Citizens; however, they may be at risk of higher assessments, FLOIR warned.
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