image credit: Pixabay

Citizens’ CEO: Florida Property Insurance Market is Shutting Down

March 19, 2021

Florida’s insurer of last resort, Citizens Property Insurance Corp., has become the insurer of first resort as thousands of new policies flood into it each week and the private homeowners insurance market continues its downward spiral.

“The reality is the marketplace in Florida is shutting down,” Citizens Property Insurance Corp. President and CEO Barry Gilway said at a rate hearing before the Florida Office of Insurance Regulation this week.

Read More on Insurance Journal