Florida Citizens Property Insurance Corp. is going back to offering some coverage it pulled back on as part of a massive property insurance bill in 2011, and other recent steps meant to reduce exposure.
SB 408—and the other state-government-supported measures to cut down on Citizens' overburdened book of business—resulted in several “unintended consequences,” says Citizens spokesman Michael Peltier. Therefore, the last-resort insurer must step into its role to provide insurance for those with no place left to turn.
Citizens' Board of Governors has approved the changes, which would open the insurer's doors to some risks related to sinkholes, new-home construction, and mobile homes.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
