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The proposal recommends an average statewide premium drop of 2.6% for personal lines. About three out of five Citizens customers would see an average cut of 11.5%, or roughly $359.<\/p>\nCitizens Property Insurance Corporation, Florida\u2019s state-backed insurer created to provide coverage when private options are unavailable, announced Wednesday that its Board of Governors has approved proposed 2026 rates that would lower average premiums for personal lines customers for the first time since 2015, reflecting how recent legislative changes have strengthened the state\u2019s property insurance landscape.<\/p>\n
The proposal recommends an average statewide premium drop of 2.6% for personal lines. About three out of five Citizens customers would see an average cut of 11.5%, or roughly $359.<\/p>\n
\u201cCritical reforms championed by Gov. DeSantis and approved by the Florida Legislature have <\/span>done what they were supposed to do: provide rate relief to policyholders and stability to the <\/span>Florida market,\u201d said Tim Cerio, Citizens President\/CEO and Executive Director. \u201cThese 2026 <\/span>rate proposals are further confirmation that Florida\u2019s insurance market is thriving.\u201d<\/span><\/p>\n Citizens\u2019 policy count reached 1.42 million in October 2023. By the end of 2025, that number is expected to fall to about 385,000 \u2014 a 73% reduction from the peak and the lowest total since the organisation was formed in 2002.<\/p>\n Following legislative reforms that reduced unnecessary lawsuits and strengthened oversight, 17 new insurance carriers have entered the Florida market, and Citizens is no longer the state\u2019s largest property insurer.<\/p>\n In 2025, the Citizens Depopulation Program shifted more than 546,000 policies to private insurers approved by the Florida Office of Insurance Regulation (OIR).<\/p>\n \u201cThanks to the Governor\u2019s leadership and the Legislature\u2019s actions, I can say unequivocally that Citizens has returned to its proper role as Florida\u2019s insurer of last resort,\u201d Cerio added. \u201cIt\u2019s important now for us to stay the course and resist any effort to roll back the critical reforms responsible for this success.\u201d<\/p>\n The approved rate recommendations will now be submitted to the OIR. After a public hearing, the regulator will evaluate the proposal, make any needed adjustments, and issue final orders for Citizens\u2019 2026 rates, scheduled to take effect June 1, 2026.<\/p>\n The post Citizens proposes rate reductions for many policyholders<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Citizens Property Insurance Corporation, Florida\u2019s state-backed insurer created to provide coverage when private options are unavailable, announced Wednesday that its […]<\/p>\n","protected":false},"author":1,"featured_media":1059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3654"}],"collection":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/comments?post=3654"}],"version-history":[{"count":3,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3654\/revisions"}],"predecessor-version":[{"id":3657,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3654\/revisions\/3657"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media\/1059"}],"wp:attachment":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media?parent=3654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/categories?post=3654"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/tags?post=3654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n![\"Brit](\"http:\/\/www.xinetica.com\/wp-content\/uploads\/2025\/09\/brit-re-in-article-728x90-1.jpg\")
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