The
Florida Office of Insurance Regulation (Office) has established the
2018personaland commercial propertyinsurance rates for Citizens Property
Insurance Corporation (Citizens). This action comes after a
postponement in the rate filing review process due to the impact of
Hurricane Irma and the issuance of an Emergency Order by the Office to
assist consumers recovering from this storm. The Emergency Order expired
on December 3, 2017. The Office has reviewed these filings and
considered the comments and testimony received from policyholders and
other interested parties, both by email and during a public rate hearing
held on August 23, 2017, in Miami, FL.As a result of this review, the
Office has established the rates for Citizens personal and commercial
property accounts. The Orders can be accessed here: Personal Property
Order,Commercial Property Order. The effective date for both new and
renewal ratesisno earlier than May1, 2018. The chart below provides the
overall estimated statewide average rate changes established by the
Office for each line of businessindividually: (Incl. FHCF Cash Buildup
Factor Changes) Account Original Rate Requested Estimated Rate
Established* Homeowners Multi-Peril (PLA) #17-16826 6.7% increase 6.6%
increase Homeowners Wind Only (CA) #17-16827 1.7% increase 0.9%
increase Property/Personal (Dwelling Fire) (PLA) #17-16966 5.2%
increase 5.2% increase Property/Personal (Dwelling Fire) Wind Only (CA)
#17-16967 6.3% increase 4.6% increase Mobile Homeowners Multi-Peril
(PLA) #17-17210 3.9% increase 3.9% increase Mobile Homeowners Wind
Only (CA) #17-17211 9.8% increase 9.8% increase Mobile Homeowners
(Dwelling Fire) (PLA) #17-17409 7.1% increase 7.1% increase Mobile
Homeowners (Dwelling Fire) Wind Only (CA) #17-17410 10.0% increase
10.0% increase Commercial Property Residential Multi-Peril (Condo Assn.)
(CLA) #17-18043 4.8% increase 4.8%increase Commercial Property
Residential Multi-Peril (Ex. Condo Assn.) (CLA) #17-18044 4.7% increase
4.6% increase Commercial Property Non-Residential Multi-Peril (CLA)
#17-18234 8.1% increase 8.1% increase Commercial Property Residential
Wind Only (Condo Assn.) (CA) #17-18869 10.3% increase 10.1% increase
Commercial Property Residential Wind Only (Ex. Condo Assn.) (CA)
#17-18870 9.8% increase 9.8% increase Commercial Property
Non-Residential Wind Only (CA) #17-18965 9.4% increase 9.4% increase
*This is an estimate of the rate effect on earned premiums determined
using selected changes from the in-force policy distributions and the
rates in the Order. Rate filings can be accessed via the “I-File Forms
& Rate Filing Search” system using the following search criteria in
either the “Quick Search” or “Advanced Search” options: file log numbers
or by entering “Citizens Property Insurance Corporation” as the
“company name”.When the selection appears, scroll to the bottom of the
results page for the most recent filing information. Visit the Citizens
Public Rate Hearing webpage on the Office’s websitefor additional
information.