<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
<meta name="Generator" content="Microsoft Word 14 (filtered medium)">
<!--[if !mso]><style>v\:* {behavior:url(#default#VML);}
o\:* {behavior:url(#default#VML);}
w\:* {behavior:url(#default#VML);}
.shape {behavior:url(#default#VML);}
</style><![endif]--><style><!--
/* Font Definitions */
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:#0563C1;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:#954F72;
text-decoration:underline;}
p.MsoAcetate, li.MsoAcetate, div.MsoAcetate
{mso-style-priority:99;
mso-style-link:"Balloon Text Char";
margin:0in;
margin-bottom:.0001pt;
font-size:8.0pt;
font-family:"Tahoma","sans-serif";}
span.BalloonTextChar
{mso-style-name:"Balloon Text Char";
mso-style-priority:99;
mso-style-link:"Balloon Text";
font-family:"Tahoma","sans-serif";}
span.EmailStyle19
{mso-style-type:personal;
font-family:"Calibri","sans-serif";
color:windowtext;}
span.EmailStyle20
{mso-style-type:personal;
font-family:"Calibri","sans-serif";
color:#1F497D;}
span.EmailStyle21
{mso-style-type:personal-reply;
font-family:"Calibri","sans-serif";
color:#1F497D;}
.MsoChpDefault
{mso-style-type:export-only;
font-size:10.0pt;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang="EN-US" link="#0563C1" vlink="#954F72">
<div class="WordSection1">
<p class="MsoNormal"><span style="color:#1F497D">Thanks to Jay Mussman for forwarding this.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal" style="mso-margin-top-alt:1.0pt;margin-right:0in;margin-bottom:1.0pt;margin-left:0in;text-autospace:none">
<b><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D">Scott P. Pence | Carlton Fields</span></b><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Board Certified in Construction Law by The Florida Bar<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Direct: 813.229.4322 | Fax: 813.229.4133<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">4221 W. Boy Scout Blvd., Ste. 1000<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Tampa, Florida 33607-5780
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black"><a href="http://www.cfjblaw.com/spence/"><span style="color:blue">bio</span></a> |
<a href="http://www.cfjblaw.com/FCWSite/Features/_Attorneys/vCard.aspx?attorney=7">
<span style="color:blue">vcard</span></a> | <a href="http://www.linkedin.com/in/pencescott">
<span style="color:blue">linkedin</span></a></span><span style="color:#1F497D"><o:p></o:p></span></p>
</div>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<div>
<div style="border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> Mussman, Jay D. [mailto:jmussman@daypitney.com]
<br>
<b>Sent:</b> Monday, September 19, 2016 1:43 PM<br>
<b>To:</b> Pence, Scott<br>
<b>Subject:</b> FW: Press Release: OFFICE OF INSURANCE REGULATION APPROVES CITIZENS 2017 RATES<o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">FYI</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">FEEL FREE TO SHARE</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">REGARDS</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:12.5pt;color:#003366">Jay D. Mussman | Attorney at Law |
<a href="http://www.daypitney.com/professionals/M/Mussman-Jay-D"><span style="color:blue">Attorney Bio</span></a>
<br>
</span><span style="font-size:6.0pt;color:#1F497D"><br>
</span><a href="http://www.daypitney.com/"><span style="font-size:6.0pt;color:blue;text-decoration:none"><img border="0" width="585" height="25" id="_x0000_i1025" src="cid:image005.jpg@01D2127B.C4EA6A20"></span></a><span style="font-size:6.0pt;color:#1F497D"><br>
<br>
</span><span style="color:#1F497D">399 West Palmetto Park Road, Suite 202 | Boca Raton FL 33432-3760<br>
t (561) 537 4934 | f (561) 952 4267 | m (561) 862 8107<br>
<a href="mailto:jmussman@daypitney.com"><span style="color:#003366">jmussman@daypitney.com</span></a> |
<a href="http://www.daypitney.com"><span style="color:#003366">www.daypitney.com</span></a><br>
<a href="http://www.daypitney.com/about/offices/boston"><span style="color:black;text-decoration:none">BOSTON</span></a> | <a href="http://www.daypitney.com/about/offices"><span style="color:black;text-decoration:none">CONNECTICUT</span></a> | <a href="http://www.daypitney.com/about/offices"><span style="color:black;text-decoration:none">FLORIDA</span></a>
| <a href="http://www.daypitney.com/about/offices/parsippany"><span style="color:black;text-decoration:none">NEW JERSEY</span></a> | <a href="http://www.daypitney.com/about/offices/new-york"><span style="color:black;text-decoration:none">NEW YORK</span></a>
| <a href="http://www.daypitney.com/about/offices/washington-dc"><span style="color:black;text-decoration:none">WASHINGTON, DC</span></a> </span><a href="http://facebook.com/DayPitney"><span style="color:blue;text-decoration:none"><img border="0" width="20" height="20" id="_x0000_i1026" src="cid:image006.jpg@01D2127B.C4EA6A20" alt="Day Pitney LLP on Facebook"></span></a><span style="color:#1F497D">
</span><a href="http://www.twitter.com/daypitneyllp"><span style="color:blue;text-decoration:none"><img border="0" width="25" height="20" id="_x0000_i1027" src="cid:image007.png@01D2127B.C4EA6A20" alt="Follow Day Pitney LLP on Twitter"></span></a><span style="color:#1F497D"> </span><a href="https://www.linkedin.com/company/day-pitney-llp"><span style="color:blue;text-decoration:none"><img border="0" width="20" height="20" id="_x0000_i1028" src="cid:image008.jpg@01D2127B.C4EA6A20" alt="Day Pitney LLP on Linkedin"></span></a><span style="color:#1F497D"><br>
<br>
<br>
<br>
</span><o:p></o:p></p>
<div>
<div style="border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal" style="margin-left:.5in"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> Newsroom [<a href="mailto:Newsroom@citizensfla.com">mailto:Newsroom@citizensfla.com</a>]
<br>
<b>Sent:</b> Friday, September 16, 2016 5:12 PM<br>
<b>To:</b> Newsroom<br>
<b>Subject:</b> Press Release: OFFICE OF INSURANCE REGULATION APPROVES CITIZENS 2017 RATES</span><o:p></o:p></p>
</div>
</div>
<p class="MsoNormal" style="margin-left:.5in"> <o:p></o:p></p>
<p class="MsoNormal" align="center" style="margin-left:.5in;text-align:center"><img border="0" width="803" height="133" id="Picture_x0020_1" src="cid:image001.jpg@01D2103D.6F3F8910"><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">FOR IMMEDIATE RELEASE</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">September 16, 2016</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">Contact: Michael Peltier</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">(850) 513-3774</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">(850) 264-7702 (cell)</span><o:p></o:p></p>
<p class="MsoNormal" align="center" style="margin-left:.5in;text-align:center"><b><span style="color:black"> </span></b><o:p></o:p></p>
<p class="MsoNormal" align="center" style="margin-left:.5in;text-align:center"><b><span style="color:black">OFFICE OF INSURANCE REGULATION APPROVES CITIZENS 2017 RATES</span></b><o:p></o:p></p>
<p class="MsoNormal" align="center" style="margin-left:.5in;text-align:center"><b><span style="color:black"> </span></b><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">TALLAHASSEE, FL – The Florida Office of Insurance Regulation on Friday approved 2017 rates for Citizens Property Insurance Corporation that address a disturbing increase in non-weather
water loss claims and litigation that prompted an overall 6.4 percent increase for homeowners’ multiperil policyholders across the state.</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">State insurance regulators made adjustments to Citizens 2017 rate request following a public hearing in August, making minor reductions to Citizens loss trends for homeowners multiperil
rates while accepting Citizens’ proposal regarding increases in rates for wind-only coverage.
</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">“The 2017 rates reflect the growing challenge of rising water loss claims and the disturbing increased costs associated with assignment of benefits,” said Barry Gilway, President, CEO and
Executive Director of Citizens Property Insurance Corporation. “Unless the legislature takes action, our policyholders can expect these increases for years to come."
</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">The statewide average wind-only rate for homeowners would increase by 8.2 percent in 2017. Mobile home owners will see an average 5.7 percent increase in multiperil rates while wind-only
mobile home coverage, which remains well below market rates, will increase by 10.3 percent.
</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">The agency also requested a review by the Florida Commission on Hurricane Loss Projection Methodology on how wind rating models and stricter building standards impact rates in Monroe County.</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">Despite the overall rate increase, preliminary figures suggest that more than 100,000 Citizens policyholders will see rate reductions under the 2017 proposal as Citizens continues to adjust
rates based upon recognized actuarial standards that require rates be based largely on local risk factors.</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">Following a reduction of nearly 1 million policyholders since late 2012, Citizens remains one of Florida’s largest property insurers, with 492,775 personal and commercial policies in force
as of September 9, 2016.</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black">“Citizens continues to work cooperatively with the Office to establish actuarially sound rates that comply with Florida statutes,” said Chris Gardner, Chairman of Citizens’ Board of Governors.
“A properly funded Citizens protects our policyholders while also reducing the risk of assessments on all insurance buying Floridians.”</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" align="center" style="margin-left:.5in;text-align:center"><span style="color:black">###</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><sub><span style="color:black">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.</span></sub><o:p></o:p></p>
<p class="MsoNormal" align="center" style="margin-left:.5in;text-align:center"><img border="0" width="314" height="2" id="_x0000_i1030" src="cid:image002.png@01D2103D.6F3F8910"><sub><span style="color:black"> </span></sub><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:5.0pt;color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><img border="0" width="14" height="13" id="Picture_x0020_3" src="cid:image003.jpg@01D2103D.6F3F8910" alt="Citizens on Facebook"><a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.facebook.com_pages_Citizens-2DProperty-2DInsurance-2DCorporation_313353039304&d=DQMFAg&c=-Q2oFtSeUeVdqcGrCCygxt6LResmVl0POOzRQwCZt0Q&r=JzxZ6kWoCgxBJ2xiMZfIcsJ1K0Ty8_j74y8X4EL7hZo&m=bauTo3IPzBTicVHYHzO8HBYvkajk5BmeTnvZ_DTsJP8&s=5cgl-n1WwSLgz8zeesVqbrxs87cvE_WktH3XPDMwhYw&e="><sub>Find
us on Facebook</sub></a> <sub> </sub><img border="0" width="15" height="14" id="Picture_x0020_2" src="cid:image004.jpg@01D2103D.6F3F8910" alt="Citizens on Twitter"><a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__twitter.com_citizens-5Ffla&d=DQMFAg&c=-Q2oFtSeUeVdqcGrCCygxt6LResmVl0POOzRQwCZt0Q&r=JzxZ6kWoCgxBJ2xiMZfIcsJ1K0Ty8_j74y8X4EL7hZo&m=bauTo3IPzBTicVHYHzO8HBYvkajk5BmeTnvZ_DTsJP8&s=tNcy7TYoLD3aIvc-ko4axLzA9eQxYcn4oxpRP0Eda5s&e="><sub>Follow
us @citizens_fla</sub></a><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"> <o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">This email and any attachments may contain confidential and privileged information and are solely for the use of the intended recipient(s). If
you have received this email in error, please notify the sender immediately, and delete the original message. If you are not the intended recipient, please do not use, disclose, disseminate or distribute this email or any information contained in this email.
Please be advised that emails are subject to the Florida Public Records Act, and any response to this email may be a public record.
</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p> </o:p></span></p>
<div class="MsoNormal" align="center" style="text-align:center"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">
<hr size="2" width="100%" align="center">
</span></div>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">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.
<br>
<br>
**********************************************************************************************************<o:p></o:p></span></p>
<div class="MsoNormal" align="center" style="text-align:center"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">
<hr size="2" width="100%" align="center">
</span></div>
</div>
</body>
</html>