Their glass is 98 percent full, but it's the rest that has everyone frazzled. And until the glass is full, you won't hear the end of it.
In a nutshell, that's the dilemma facing the Citizens Property Insurance Corp. It processed and closed 303,735 claims from the 2004 and 2005 hurricane season, but 3,330 remain open. Can you guess which side of the equation policyholders and state officials are focused on today?
A special task force examining how Citizens is handling unresolved claims has recommended the company take "extraordinary action" to close the rest of the claims by Sept. 30, 2007, using a spreadsheet to note which counties have unsettled claims, assigning the claims to specific personnel, and making it easier to resolve claims via mediation, appraisals, and negotiated legal settlements.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
