Moody's Investors Service lowered its outlook on High RiskAccount (Citizens HRA) of Citizens Property Insurance Corporationto negative from stable, reflecting the Florida insurer's heavycatastrophe losses during 2005.
Moody's affirmed the "A2" senior debt rating on the Personal andCommercial Lines Account and the "A3" senior debt rating on theCitizens HRA.
Besides the catastrophe losses, Moody's said it based itsdecision on the potential for significant increases in riskexposures for the future, as private market insurance companiesscale back their Florida homeowners insurance exposures.
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