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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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<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>
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<p class="MsoNormal"><b>From:</b> Mussman, Jay D. <jmussman@daypitney.com> <br>
<b>Sent:</b> Monday, December 10, 2018 12:20 PM<br>
<b>To:</b> Pence, Scott <spence@carltonfields.com><br>
<b>Subject:</b> FW: Media Advisory: Citizens Releases 2019 Rate Media Kit<o:p></o:p></p>
</div>
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<p class="MsoNormal"><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">Thank you</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 |
</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="216" height="26" style="width:2.25in;height:.2708in" id="_x0000_i1025" src="cid:image001.jpg@01D49082.A3523910"></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>
</span><a href="http://www.daypitney.com/about/offices/boston"><span style="color:black;text-decoration:none">BOSTON</span></a><span style="color:#1F497D"> | </span><a href="http://www.daypitney.com/about/offices"><span style="color:black;text-decoration:none">CONNECTICUT</span></a><span style="color:#1F497D">
| </span><a href="http://www.daypitney.com/about/offices"><span style="color:black;text-decoration:none">FLORIDA</span></a><span style="color:#1F497D"> | </span><a href="http://www.daypitney.com/about/offices/parsippany"><span style="color:black;text-decoration:none">NEW
JERSEY</span></a><span style="color:#1F497D"> | </span><a href="http://www.daypitney.com/about/offices/new-york"><span style="color:black;text-decoration:none">NEW YORK</span></a><span style="color:#1F497D"> | </span><a href="http://www.daypitney.com/about/offices/washington-dc"><span style="color:black;text-decoration:none">WASHINGTON,
DC</span></a><span style="color:#1F497D"> </span><a href="http://facebook.com/DayPitney"><span style="color:blue;text-decoration:none"><img border="0" width="20" height="20" style="width:.2083in;height:.2083in" id="_x0000_i1026" src="cid:image002.jpg@01D49082.A3523910" 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" style="width:.2604in;height:.2083in" id="_x0000_i1027" src="cid:image004.png@01D49082.A3523910" 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" style="width:.2083in;height:.2083in" id="_x0000_i1028" src="cid:image005.jpg@01D49082.A3523910" alt="Day Pitney LLP on Linkedin"></span></a><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> Monday, December 10, 2018 12:19 PM<br>
<b>To:</b> Newsroom<br>
<b>Subject:</b> Media Advisory: Citizens Releases 2019 Rate Media Kit</span><o:p></o:p></p>
</div>
</div>
<p class="MsoNormal" style="margin-left:.5in"> <o:p></o:p></p>
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<p class="MsoNormal" style="margin-left:.5in"><strong><span style="font-size:9.0pt;font-family:"Helvetica",sans-serif;color:black">[[EXTERNAL EMAIL]]</span></strong><o:p></o:p></p>
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<p class="MsoNormal" align="center" style="margin-left:.5in;text-align:center"><img border="0" width="802" height="133" style="width:8.3541in;height:1.3854in" id="Picture_x0020_1" src="cid:image003.jpg@01D49082.83BC4910"><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-family:"Arial",sans-serif">FOR IMMEDIATE RELEASE</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-family:"Arial",sans-serif">December 10, 2018</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-family:"Arial",sans-serif">Contact: Michael Peltier</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-family:"Arial",sans-serif">850.513.3774</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-family:"Arial",sans-serif">850.264.7702 (cell)</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><b><span style="font-family:"Arial",sans-serif"> </span></b><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><b><span style="font-family:"Arial",sans-serif"> </span></b><o:p></o:p></p>
<p class="MsoNormal" align="center" style="margin-left:.5in;text-align:center"><b><span style="font-family:"Arial",sans-serif">Citizens Releases 2019 Rate Media Kit</span></b><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><b><span style="font-family:"Arial",sans-serif"> </span></b><o:p></o:p></p>
<p style="margin-left:.5in;background:white"><span style="font-size:11.0pt;font-family:"Arial",sans-serif">TALLAHASSEE, FL – Citizens Property Insurance Corporation’s Board of Governors on Wednesday will be asked to approve a 2019 rate package that reflects
the continued impact of litigation, assignment of benefits abuse and nonweather related water loss claims in South Florida.
</span><o:p></o:p></p>
<p style="margin-left:.5in;background:white"><span style="font-size:11.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p style="margin-left:.5in;background:white"><span style="font-size:11.0pt;font-family:"Arial",sans-serif">Board members will consider recommended rates for 2019 that call for a statewide average increase of 8.2 percent for personal lines policyholders – homeowners,
condominium owners and renters. If approved by the Office of Insurance Regulation, the 2019 rates would go into effect for new and renewal policies after September 1, 2019.
</span><o:p></o:p></p>
<p style="margin-left:.5in;background:white"><span style="font-size:11.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p style="margin-left:.5in;background:white"><span style="font-size:11.0pt;font-family:"Arial",sans-serif">The 2019 recommendations take into account policy language changes that became effective on August 1, 2018. Citizens actuaries factored in anticipated
savings from Citizens’ <span class="MsoHyperlink"><a href="http://www.citizensfla.com/mrp">Managed Repair Program</a></span>, which is expected to reduce litigation costs surrounding nonweather water loss claims. Without those policy language changes, the
projected litigation rate for the upcoming policy period is 50 percent. </span><o:p></o:p></p>
<p style="margin-left:.5in;background:white"><span style="font-size:11.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p style="margin-left:.5in;background:white"><span style="font-size:11.0pt;font-family:"Arial",sans-serif">Affordable reinsurance and depopulation efforts over the past several years have reduced Citizens’ policy count from nearly 1.5 million in 2012 to 435,000,
a reduction that has helped provide the state-run insurer the ability to pay claims following a 1-100 year storm, with ample reserves to cover a second 1-41 year event.
</span><o:p></o:p></p>
<p style="margin-left:.5in;background:white"><span style="font-size:11.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p style="margin-left:.5in;background:white"><span style="font-size:11.0pt;font-family:"Arial",sans-serif">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. </span><o:p></o:p></p>
<p style="margin-left:.5in;background:white"><span style="font-size:11.0pt;font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p style="margin-left:.5in;background:white"><span style="font-size:11.0pt;font-family:"Arial",sans-serif">Citizens has prepared a
<span class="MsoHyperlink"><a href="https://www.citizensfla.com/documents/20702/7538469/20181210+2019+Rate+Kit/b803cc29-8c7e-4b7e-a6e9-3154c56eca83">2019 rate kit</a></span> to provide members of the media with information about its 2019 rate filing, including
<span class="MsoHyperlink"><a href="https://www.citizensfla.com/documents/20702/7538469/20181210+County+by+County+rate+filings/4fc7f87e-ad21-4339-9c66-6da070c827ad">county-by-county estimates</a></span> 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. </span><o:p></o:p></p>
<p class="MsoNormal" align="center" style="margin-left:.5in;text-align:center"><span style="font-family:"Arial",sans-serif">###</span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-family:"Arial",sans-serif"> </span><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><sub><span style="font-family:"Arial",sans-serif">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" style="margin-left:.5in"><span style="font-family:"Arial",sans-serif"> </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>
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