Citizens Florida Rate Increase

The Office of Insurance Regulation (OIR) has announced new Florida rating changes for Citizens Property Insurance Company effective between January 1, 2011, and February 1, 2011.

Condominium Association Master Commercial Multi-Peril Policies (excluding A Rated) will increase statewide by an average 8.1%, while Condo Wind-Only Policies (excluding A Rated) will increase by an average 11.0 percent statewide.

Homeowner Associations and Co-ops Master Commercial Multi-Peril Policies (excluding A Rated) will increase a nominal 0.7 percent statewide while Homeowner Associations and Coops Wind-Only policies (excluding A Rated) will increase by 11.3 percent.

Citizens has 30 days to submit territory specific final manual pages. To read the OIR Order, click on the link below:

http://www.floir.com/pdf/CitizensOrder10022010.pdf