florida windstorm underwriting association, Citizens Property Insurance Corporation news.
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florida windstorm underwriting association on sale
Fla. Windstorm Association wants 124.3% hike in rates.(Florida Windstorm Underwriting Association): An article from: National Underwriter Property & Casualty-Risk & Benefits Management
Book (The National Underwriter Company)
List Price:
Price: $5.95
Windstorm Pool In Fla. Is Cash Poor.(Florida Windstorm Underwriting Association)(Brief Article): An article from: National Underwriter Property & Casualty-Risk & Benefits Management
Book (The National Underwriter Company)
List Price:
Price: $5.95
florida windstorm underwriting association news
Florida Homeowners Insurance Blues
Hundreds of thousands of policyholders in high-risk areas [were being] dumped into the post-[Hurricane] Andrew state-run “insurer of last resort.” The company, Citizens Property Insurance Corp (the result of a merger between Florida Windstorm Underwriting Association and Florida Residential Property Joint Underwriting Association) has seen astronomical rate hikes. And while policyholders in high-risk areas are dumped into this system, private insurers keep the lower risks for themselves. Said [Bill Newton of the Florida Consumer Action Network], “The state high risk pool takes the windstorm risk in those areas, and the insurers just take the balance of the risk [in less risky areas]. That deprives the state of the profits from the more lucrative part of the business.” Citizens now faces a $1.8 billon deficit.
Source: ThePopTort
