Citizens Implements Contract Changes to Address Florida Water Losses

Citizens Property Insurance Corp. is alerting policyholders to important policy changes beginning July 1 as part of the state-backed insurer’s efforts to improve communication and protect customers early in the claims process while controlling costs that it has said threaten to raise rates.

The Florida Office of Insurance Regulation recently approved a set of focused policy contract changes for Citizens regarding loss reporting, use of emergency services, and the nature of permanent repairs. According to a statement from Citizens, regulators approved the contract changes to address abuses of the insurance contract that are reducing consumer control, complicating claims, and increasing rates, particularly in South Florida. Citizens also says the disturbing trend is now spreading to the entire state.

 

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