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Florida Approves 50K Takeout From Citizens

The Florida Office of Insurance Regulation (OIR) has approved removals from Citizens Property Insurance Corp.
August 8, 2017

The Florida Office of Insurance Regulation (OIR) has approved Safepoint Insurance Company to remove up to 5,000 personal residential policies (20,000 Personal Lines Account/15,000 Coastal Account) from Citizens Property Insurance Corp. for the Oct. 17, 2017, takeout period. It also approved Southern Oaks Insurance Company to remove up to 15,000 personal residential policies (5,000 Personal Lines Account/10,000 Coastal Account) for the same takeout period. This approval brings the total number of potential personal and commercial residential policies approved for takeouts in 2017 to 139,244; the actual number of policies removed from Citizens so far in 2017 was 13,460 as of July 11.

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