Citizens' president and CEO said that Citizens is now forecasting it will have about 1.3 million policies at the end of 2023, after earlier estimates of 1.5 million to 1.7 million policies.
The company said the move will affect only Farmers-branded policies and will not affect policies sold in Florida by subsidiaries Foremost and Bristol West.
United Property & Casualty has faced deep financial problems for months, including announcing in August that it would exit Florida's troubled homeowners' insurance market.
The insurance market has faced massive problems during the past two years, with insurers seeking large rate increases and dropping hundreds of thousands of customers because of financial losses.
Issues slated to be addressed include boosting the availability of critical reinsurance and bolstering the financial stability of the state's insurer of last resort.
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{
"uri": "/2023/09/29/citizens-policy-count-could-decrease-414-244287/",
"title": "Citizens policy count could decrease",
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"summary": "Citizens' president and CEO said that Citizens is now forecasting it will have about 1.3 million policies at the end of 2023, after earlier estimates of 1.5 million to 1.7 million policies.",
"body": null
},
{
"uri": "/2023/07/14/floridas-critical-reinsurance-market-improves-but-at-a-price-414-240773/",
"title": "Florida's critical reinsurance market improves, but at a price",
"byline": "Jim Saunders",
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"summary": "Reinsurance, which is essentially insurance for insurers, helps drive the catastrophe-prone Florida insurance system.",
"body": null
},
{
"uri": "/2023/07/13/florida-insurance-market-takes-hit-as-farmers-insurance-exits-414-240707/",
"title": "Farmers pulling reins on property lines in Florida, California",
"byline": "Jim Saunders and Jim Turner",
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"prettyDate": "July 13, 2023",
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"summary": "The company said the move will affect only Farmers-branded policies and will not affect policies sold in Florida by subsidiaries Foremost and Bristol West.",
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{
"uri": "/2023/06/09/florida-joins-9-other-states-to-fight-flood-insurance-revamp-414-239297/",
"title": "Florida joins 9 other states to fight against NFIP's Risk Rating 2.0",
"byline": "Jim Saunders",
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"prettyDate": "June 09, 2023",
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"summary": "Florida, Louisiana and the other states are challenging Risk Rating 2.0, which changed the methodology for determining flood insurance prices.",
"body": null
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{
"uri": "/2023/02/23/insolvent-insurer-united-property-casualty-headed-to-receivership-414-234643/",
"title": "Insolvent insurer United Property & Casualty headed to receivership",
"byline": "Jim Saunders",
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"summary": "United Property & Casualty has faced deep financial problems for months, including announcing in August that it would exit Florida's troubled homeowners' insurance market.",
"body": null
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{
"uri": "/2023/01/05/citizens-policy-count-up-50-in-2022-414-232433/",
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"summary": "The state's insurer of last resort is a measuring stick for the health of the private insurance market.",
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"summary": "The Restoration Association of Florida and Florida Premier Roofing say a requirement for scaling back roof-damage claims is unconstitutional.",
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{
"uri": "/2022/12/27/florida-insurance-changes-will-help-take-time-414-232104/",
"title": "Florida insurance changes will help, take time",
"byline": "Jim Saunders",
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"prettyDate": "December 27, 2022",
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"summary": "In a new report, AM Best pointed to remaining questions about how law changes will affect reinsurance.",
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{
"uri": "/2022/12/13/insurance-proposals-could-bring-big-changes-414-231506/",
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"prettyDate": "December 13, 2022",
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"summary": "The insurance market has faced massive problems during the past two years, with insurers seeking large rate increases and dropping hundreds of thousands of customers because of financial losses.",
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"uri": "/2022/12/08/major-insurance-issues-teed-up-for-legislative-special-session-414-231335/",
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"prettyDate": "December 08, 2022",
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