CItizens Removing 15,000 Homeowners Policies

Thursday, Jun 5, 2014  |  Updated 6:12 PM EDT
View Comments (
)
|
Email
|
Print
CItizens Removing 15,000 Homeowners Policies

AP

The Florida Office of Insurance Regulation just approved the removal of up to 15,000 homeowners’ insurance policies from Citizens Property Insurance Corporation.

The policies will be transferred to Heritage Property & Casualty Insurance Company, according to the FOIR. Heritage has received the majority of its customers from Citizens transferring policies from the public market to the private market.

Heritage asked for 13,178 policies to be transferred to the private insurance market from non-coastal properties and 1,822 from coastal properties.

According to the OIR, the move Thursday brings the total number of policies to be approved for a transfer to the private markets to 359,431. However, only 106,380 policies have officially been moved off Citizens’ rolls.

That’s because policyholders have the choice to remain with Citizens or be transferred to a private company. However, you will have to notify Citizens that you want to stay with the company because if you don’t, the policy will be automatically transferred.

Get the latest from NBC 6 South Florida anywhere, anytime: iPhone/iPad App | Twitter | Facebook | Google+ | Instagram | RSS

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Get Our New iPad App
Now optimized for iPad, NBC 6 connects... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out