Three private insurance companies are hoping to takeover up to 75,000 policies in state-run Citizens Property Insurance Corp. on Tuesday, less than two weeks before hurricane season officially begins June 1.
American Integrity Insurance Co. (25,000 policies), Elements Property Insurance Co. (40,000 policies) and Southern Oak Insurance Co. (10,000 policies) were approved by the Office of Insurance Regulation in March to acquire the policies starting Tuesday. Customers receiving notices in the mail, however, could opt-out of the move to a new company. About two-thirds of policyholders usually opt to stay with Citizens.
This brief has been archived. The entire brief is available exclusively to LobbyTools subscribers.
Already a subscriber? Login, or call 850-915-0100 ext. 1 for customer support.
Subscribe to our RSS feed