Report Calls for Citizens Property Insurance Corp. to Return to Insurer of Last Resort…
What happened
The James Madison Institute published a report recommending that Citizens Property Insurance Corp. return to its role as the insurer of last resort for Florida residents. The report noted that Citizens has grown beyond the scope originally intended by the Florida Legislature when it was created in 2002. Citizens' policy count dropped from 1.4 million in 2023 to roughly 266,000 this September, according to the insurer’s figures.
From miamitimesonline.com
Why it matters
The report argues that while rising premiums following hurricanes and litigation drove Citizens’ growth, recent legislative reforms have reversed that trend and eased demand for its policies. This analysis directly addresses the structure of the Florida risk transfer marketplace.
Citizens Property Insurance Corporation operates within the Florida risk transfer marketplace.
From miamitimesonline.com
Who's involved
- FloridaThe state where the insurance market structure is being analyzed.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- JMI report may pressure DeSantis to rethink Florida's insurance marketThe James Madison Institute report may pressure DeSantis to rethink Florida's insurance marketPossible
- James Uthmeier's office may review Citizens' legal role in FloridaJames Uthmeier's office may review Citizens' legal role in FloridaPossible
Keep exploring
Part of
Citizens Property Insurance Corporation operates within the Florida risk transfer marketplace.Also in this story
- Brown & Brown division was awarded a contract by Citizens, Florida's state-created insurer, which subsequently faced a challenge from Ryan Turner.
- The Citizens Property Insurance Corporation has finalized its risk transfer tower structure for the year 2026.