[Liability Insurance] FW: Press Release: Citizens Releases 2019 Rate Media Kit

Wed Jun 20 07:33:24 PDT 2018

Please see below and attached thanks to Jay Mussman.

Scott P. Pence | Carlton Fields
Board Certified in Construction Law by The Florida Bar
Direct: 813.229.4322 | Fax: 813.229.4133
4221 W. Boy Scout Blvd., Ste. 1000
Tampa, Florida 33607-5780
bio<http://www.cfjblaw.com/spence/> | vcard<http://www.cfjblaw.com/FCWSite/Features/_Attorneys/vCard.aspx?attorney=7> | linkedin<http://www.linkedin.com/in/pencescott>

From: Mussman, Jay D. <jmussman at daypitney.com>
Sent: Wednesday, June 20, 2018 10:18 AM
To: Pence, Scott <spence at carltonfields.com>
Subject: FW: Press Release: Citizens Releases 2019 Rate Media Kit

Please share

Thank you

Regards

Jay D. Mussman | Attorney at Law | Attorney Bio<http://www.daypitney.com/professionals/M/Mussman-Jay-D>

[cid:image004.jpg at 01D4087F.FB3684F0]<http://www.daypitney.com/>

Mizner Park Office Tower | 225 NE Mizner Boulevard, Suite 350 | Boca Raton FL 33432-4078
t (561) 537 4934 | f (561) 952 4267 | m (561) 862 8107
jmussman at daypitney.com<mailto:jmussman at daypitney.com> | www.daypitney.com<http://www.daypitney.com>
BOSTON<http://www.daypitney.com/about/offices/boston>  |  CONNECTICUT<http://www.daypitney.com/about/offices>   |  FLORIDA<http://www.daypitney.com/about/offices>   |  NEW JERSEY<http://www.daypitney.com/about/offices/parsippany>   |  NEW YORK<http://www.daypitney.com/about/offices/new-york>   |  WASHINGTON, DC<http://www.daypitney.com/about/offices/washington-dc>    [Day Pitney LLP on Facebook] <http://facebook.com/DayPitney>   [Follow Day Pitney LLP on Twitter] <http://www.twitter.com/daypitneyllp>   [Day Pitney LLP on Linkedin] <https://www.linkedin.com/company/day-pitney-llp>
From: Newsroom [mailto:Newsroom at citizensfla.com]
Sent: Monday, June 18, 2018 7:36 PM
To: Newsroom
Subject: Press Release: Citizens Releases 2019 Rate Media Kit

[cid:image001.jpg at 01D4073A.BA6F7030]

FOR IMMEDIATE RELEASE
June 18, 2018

Contact: Christine Ashburn
(850) 728-7255 (cell)
(850) 513-3746

Citizens Releases 2019 Rate Media Kit

TALLAHASSEE, FL – Citizens Property Insurance Corporation’s Board of Governors on Wednesday will be asked to approve a 2019 rate package that reflects the impact of skyrocketing nonweather related water loss claims in South Florida, a troubling trend that appears to be spreading to other parts of the state.

Board members will be asked to recommend rates for 2019 that call for a statewide average increase of 7.9 percent for personal lines policyholders – homeowners, condominium owners and renters.

Under the proposed rates, inland homeowners with multiperil policies would see an average increase of 8.3 percent, while homeowners along the coast would see rates climb by an average of 9.5 percent.

Affordable reinsurance and depopulation efforts over the past several years have reduced Citizens’ policy count from nearly 1.5 million in 2012 to approximately 443,000 as of May 2018, a reduction that has helped provide the state-run insurer the ability to pay claims following a 1-in-100 year storm and a second 1-in-41 year event without having to levy assessments.

Citizens is required by law to recommend rates that are actuarially sound, while complying with a legislative glide path that caps rate increases at 10 percent, excluding coverage changes and surcharges. In July, Citizens will submit its 2019 recommended rates to the Office of Insurance Regulation, which must establish rates for Citizens before they take effect.

Citizens has prepared a 2019 rate kit<https://www.citizensfla.com/documents/20702/7538469/2019+Rate+kit/b250baeb-3eb2-429b-84d6-62685a111f2c> to provide members of the press with information about its 2019 rate filing, including county-by-county estimates<https://www.citizensfla.com/documents/20702/7538469/County+by+County+rate+filings+2019/063ca249-8699-44a7-8858-1b55f46daf5d> for particular policy types. Additional information and answers to common questions about Citizens' rates and premiums are included in Citizens 2019 Rates Frequently Asked Questions. The kit also includes additional information about Citizens' costs and projected rate need for 2019.

###

In 2002, the Florida Legislature created Citizens Property Insurance Corporation (Citizens), a not-for-profit alternative insurer, whose public purpose is to provide insurance to, and serve the needs of, property owners who cannot find coverage in the private insurance market.
[Citizens on Facebook]Find us on Facebook<https://www.facebook.com/pages/Citizens-Property-Insurance-Corporation/313353039304>  [Citizens on Twitter] Follow us @citizens_fla<https://twitter.com/citizens_fla>

________________________________
This message contains PRIVILEGED AND CONFIDENTIAL INFORMATION intended solely for the use of the addressee(s) named above. Any disclosure, distribution, copying or use of the information by others is strictly prohibited. If you have received this message in error, please notify the sender by immediate reply and delete the original message. Thank you.

**********************************************************************************************************
________________________________
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/liability_insurance/attachments/20180620/e93e23ba/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 10722 bytes
Desc: image001.jpg
URL: <http://mailman.fsr.com/pipermail/liability_insurance/attachments/20180620/e93e23ba/image001-0001.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 721 bytes
Desc: image002.jpg
URL: <http://mailman.fsr.com/pipermail/liability_insurance/attachments/20180620/e93e23ba/image002-0001.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 716 bytes
Desc: image003.jpg
URL: <http://mailman.fsr.com/pipermail/liability_insurance/attachments/20180620/e93e23ba/image003-0001.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 5097 bytes
Desc: image004.jpg
URL: <http://mailman.fsr.com/pipermail/liability_insurance/attachments/20180620/e93e23ba/image004-0001.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 1157 bytes
Desc: image005.jpg
URL: <http://mailman.fsr.com/pipermail/liability_insurance/attachments/20180620/e93e23ba/image005-0001.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image006.png
Type: image/png
Size: 1340 bytes
Desc: image006.png
URL: <http://mailman.fsr.com/pipermail/liability_insurance/attachments/20180620/e93e23ba/image006-0001.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image007.jpg
Type: image/jpeg
Size: 1216 bytes
Desc: image007.jpg
URL: <http://mailman.fsr.com/pipermail/liability_insurance/attachments/20180620/e93e23ba/image007-0001.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: 06.18.18_Press Release 2019 Rate Kit.pdf
Type: application/pdf
Size: 80678 bytes
Desc: 06.18.18_Press Release 2019 Rate Kit.pdf
URL: <http://mailman.fsr.com/pipermail/liability_insurance/attachments/20180620/e93e23ba/06.18.18_PressRelease2019RateKit-0001.pdf>