The state-backed Citizens Property Insurance Corp. added nearly 9,600 policies last week as it continues to see explosive growth.
Citizens had 1,345,403 policies as of Friday, up from 1,335,817 policies a week earlier and 1,331,650 policies two weeks earlier, according to data posted on its website. Citizens President and CEO Tim Cerio has said the policy count could reach 1.7 million by the end of the year.
Citizens, which was created as an insurer of last resort, has seen explosive growth over the past three years as private insurers have shed policies and raised rates because of financial problems.
As an illustration of the growth, Citizens had 486,773 policies on July 31, 2020; 661,150 policies on July 31, 2021; and 994,456 policies on July 31, 2022.
Subscribe to Orlando Weekly newsletters.
Follow us: Apple News | Google News | NewsBreak | Reddit | Instagram | Facebook | Twitter | Or sign up for our RSS Feed
A large storm system crossed the Rockies over the weekend. It produced rain and snow…
The 2024 Atlantic hurricane season doesn't begin until June 1, but we're already watching an…
Widespread flooding in Dubai last week has people wondering if cloud seeding is to blame…
A system sparking a severe weather outbreak over parts of the southeastern U.S. today will…
The 2024 Atlantic hurricane season will follow up on a busy 2023 season. The 2023…
Researchers at Colorado State University released their pre-seasonal Atlantic hurricane season forecast Thursday morning, calling…
