State regulators to discuss Citizens Insurance rate hike
If a double-digit rate hike for Citizens Insurance policy holders is approved it would impact one million Floridians. Kellie Cowan reports.
TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation will meet Thursday afternoon to discuss proposed rate hikes from state-backed Citizens Insurance.
Citizens policyholders could see an average increase of 14 percent in their rate.
The double-digit ask comes after years of pleas to increase rates to keep pace with the private insurance market.
READ: What proposed Citizens insurance rate hike means for homeowners
Citizens says state regulations have kept its rates artificially low, which has attracted hundreds of thousands…
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