Citizens’ Policy Count Remains Stable
As of Friday, Citizens had 942,810 policies; it had 941,158 a week ago. Fla.’s insurer of last resort expects the policy count to drop as depopulation continues.
TALLAHASSEE, Fla. — The number of policies in the state’s Citizens Property Insurance Corp. continues to show little change.
As of Friday, Citizens had 942,810 policies, up from 941,158 policies a week earlier, 939,376 policies two weeks earlier and 938,845 policies three weeks earlier, according to data on its website.
Citizens, which was created as the state’s insurer of last resort, grew to 1.4 million policies in 2023 amid financial problems in the private market.
But its policy count has decreased because of what is known as a “depopulation” program aimed at shifting policies to private insurers and improvements in the overall market.
With additional rounds of depopulation planned, Citizens expects decreases in its policy count in the coming months.
Citizens leaders and other state officials have long sought to reduce the number of Citizens policies, at least in part because of financial risks if the state gets hit by a major hurricane or multiple hurricanes.
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