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<p class="MsoNormal"><span style="color:#1F497D">Please see below and attached – thanks to Jay Mussman<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<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>
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<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> Wednesday, December 06, 2017 4:26 PM<br>
<b>To:</b> Pence, Scott<br>
<b>Subject:</b> FW: Press Release_Citizens: OIR 2018 rate order balances rate need, Irma impact<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><a name="_MailEndCompose"><span style="color:#1F497D">Good afternoon</span></a><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">Please 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"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">Thank you</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 |
</span><a href="http://www.daypitney.com/professionals/M/Mussman-Jay-D"><span style="font-size:12.5pt;color:blue">Attorney Bio</span></a><span style="font-size:12.5pt;color:#003366">
<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:image001.jpg@01D36EAE.ED4B0D40"></span></a><span style="font-size:6.0pt;color:#1F497D"><br>
<br>
</span><span style="color:#1F497D">Mizner Park Office Tower 225 NE Mizner Boulevard, Suite 350 | Boca Raton FL 33432-4078<br>
t (561) 537 4934 | f (561) 952 4267 | m (561) 862 8107<br>
</span><a href="mailto:jmussman@daypitney.com"><span style="color:#003366">jmussman@daypitney.com</span></a><span style="color:#1F497D"> |
</span><a href="http://www.daypitney.com"><span style="color:#003366">www.daypitney.com</span></a><span style="color:#1F497D"><br>
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<img border="0" width="639" height="121" id="_x0000_i1029" src="cid:image006.jpg@01D36EAE.ED4B0D40"></span><o:p></o:p></p>
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<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> Wednesday, December 06, 2017 4:22 PM<br>
<b>To:</b> Newsroom<br>
<b>Subject:</b> Press Release_Citizens: OIR 2018 rate order balances rate need, Irma impact</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="802" height="133" id="Picture_x0020_1" src="cid:image002.jpg@01D36EAE.6372D030"><o:p></o:p></p>
<p class="MsoNormal" align="center" style="margin-left:.5in;text-align:center"><span style="font-size:12.0pt;font-family:"Times New Roman","serif""> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">FOR IMMEDIATE RELEASE</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">December 6, 2017</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif""> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif""> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">Contact: Michael Peltier</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">(850) 513-3774</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">(850) 264-7702 (cell)</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif""> </span><o:p></o:p></p>
<p class="MsoNormal" align="center" style="margin-left:.5in;text-align:center"><b><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">Citizens: OIR 2018 rate order balances rate need, Irma impact</span></b><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black">TALLAHASSEE, FL – The Florida Office of Insurance Regulation on Wednesday approved 2018 rates for Citizens Property Insurance Corporation
that recognize the continued challenges of rising non-weather water loss claims and litigation while providing some relief to Florida Keys policyholders who bore the brunt of Hurricane Irma.</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black"> </span><o:p></o:p></p>
<p style="mso-margin-top-alt:0in;margin-right:0in;margin-bottom:7.5pt;margin-left:.5in;background:white">
<span style="color:#333333">While approving a statewide increase of 6.6 percent for homeowners multi-peril policies, state insurance regulators held rates steady for Monroe County policyholders until Citizens completes analyses and review of lessons learned
from the powerful hurricane. Citizens 2018 request called for homeowners wind-only rates in the Keys to climb by 3.9 percent.
</span><o:p></o:p></p>
<p style="mso-margin-top-alt:0in;margin-right:0in;margin-bottom:7.5pt;margin-left:.5in;background:white">
<span style="color:#333333"> “The Office of Insurance Regulation’s 2018 rate order balances the needs of policyholders facing challenges from Irma with its responsibility to maintain a healthy property insurance market,” said Chris Gardner, Chairman of Citizens
Board of Governors.</span><o:p></o:p></p>
<p style="mso-margin-top-alt:0in;margin-right:0in;margin-bottom:7.5pt;margin-left:.5in;background:white">
<span style="color:#333333;background:white">Under the approved rates, homeowners along the coast would see wind-only rates climb by an average of 0.9 percent. Rates for condominium unit owners would rise by a statewide average of 4.6 percent. Despite statewide
increases, thousands of Citizens customers will see rate reductions.</span><o:p></o:p></p>
<p style="mso-margin-top-alt:0in;margin-right:0in;margin-bottom:7.5pt;margin-left:.5in;background:white">
<span style="color:#333333">State insurance regulators delayed a decision, usually reached in September, on Citizens 2018 rate request to focus attention on response efforts following Hurricane Irma, a Category 4 hurricane that made landfall in the Keys on
September 10, 2017. The 2018 rates will take effect for new and renewal policies after May 1, 2018.</span><o:p></o:p></p>
<p style="mso-margin-top-alt:0in;margin-right:0in;margin-bottom:7.5pt;margin-left:.5in;background:white">
<span style="color:#333333">Industry-wide as of December 4, the storm had resulted in more than 850,000 claims with insured losses of nearly $6.3 billion. Citizens expects to receive about 70,000 claims, including more than 9,000 from Monroe County. Statewide
Citizens losses are expected to exceed $1.2 billion. </span><o:p></o:p></p>
<p style="mso-margin-top-alt:0in;margin-right:0in;margin-bottom:7.5pt;margin-left:.5in;background:white">
<span style="color:#333333"><a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.floir.com_siteDocuments_Citizens211627-2D17-2DO.pdf&d=DwMFAg&c=-Q2oFtSeUeVdqcGrCCygxt6LResmVl0POOzRQwCZt0Q&r=JzxZ6kWoCgxBJ2xiMZfIcsJ1K0Ty8_j74y8X4EL7hZo&m=p61MXmIq6VFsajh59btXFguzQVW7xs5E-vDD2QKcbOw&s=vfIiX1yr2AyuZAConQNEjzhGLKvUE1y8tjPc_wxGerI&e=">The
order</a> calls on Citizens to review rating territories throughout Monroe County and analyze wind mitigation credits while working with local officials to review building codes for possible revision.
</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">“The residents of the Florida Keys have withstood challenges and will continue to do so as they rebuild in the wake of Hurricane Irma,” said Barry
Gilway, Citizens President, CEO and Executive Director. “We look forward to working with all stakeholders going forward to address issues discovered as a result of the storm.”
</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">
</span><o:p></o:p></p>
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