CITIZENS INSURANCE

With private insurers dropping customers and raising rates, the state-backed Citizens Property Insurance Corp. saw its number of policies increase about 50% in 2022.

After Florida lawmakers made changes in the insurance system that he described as “historic,” Citizens Property Insurance Corp. President and CEO Barry Gilway said Thursday he will retire.

Preliminary estimates for Citizen’s Property Insurance Corp. have the company expecting upwards of 225,000 claims after Ian hit Florida as a Category 4 hurricane last week.

Insurance agents from State Farm to Citizens Insurance are operating makeshift tent offices in a mall parking lot in Port Charlotte, Florida to help people get funds, food and supplies.

Insurance agents from State Farm to Citizens Insurance are operating makeshift tent offices in a mall parking lot in Port Charlotte to help people get funds, food and supplies.

Barry Gilway, president and CEO of Citizens Property Insurance Corp., said Wednesday the state-backed insurer has been a “roller coaster ride” for the past two decades.

Gov. Ron DeSantis has called a second special legislative session, this time with the goal to address Florida's property insurance crisis which has seen many homeowners lose their insurance or see their premiums skyrocket.

Lawmakers claim new legislation that just passed will offer homeowners relief, but some consumers like Susie Blanchard say the law is lip service at best.

With hurricane season weeks away, three property insurance companies are dropping more than 50,000 policy's in Florida and some of the policy holders have not been notified yet.

Sharon Landry says she “freaked out” when she opened her statement and saw the premium for her homeowner’s insurance policy surge.

State regulators recently shut down an insurance company that wrote tens of thousands of policies across the state. Florida Specialty Insurance Co. offered property insurance for homeowners and renters as well as for mobile homes, but state regulators say the companys financial records violated state law. She says her mortgage company recently paid FSIC the annual premium of $1,800. "My mortgage company could foreclose, since I'm $1,800 in arrears," she said. The state of Florida has notified all FSIC policyholders that if they cannot find insurance, Citizens Insurance is available.