Number of Citizens’ Insurance Policies Halved since 2023

As of Friday, Citizens had 770,729 policies. As of June 30, it had 774,814 policies; the next largest property insurer, State Farm Florida Insurance Co. had 643,671, according to a state Office of Insurance Regulation report. Citizens topped 1.4 million policies in 2023, and the depopulation program has played a key role in whittling that number.

Insurance Commissioner Michael Yaworsky last week signed orders that would allow five private insurers to assume up to 87,925 policies from Citizens in November and December. That came after the state last month approved proposals by nine companies to assume up to 428,947 policies in October, November and December. (more…)