After weeks of haggling among state lawmakers, the freeze that has kept Citizens Property Insurance Corp. rates locked in place for the last three years will soon end. But that doesn't mean the debate over pricing will finally stop.
By the time that Citizens' officials finally turn in their 2010 rate filing — which cannot be submitted any earlier than July 15 — those who govern the state's largest property insurer have to decide how to structure the rates by region and by policy line. Moving back toward actuarially sound rates brings with it wide-ranging questions about how much fluctuation there should be for those rate payers who live in the high-risk coastal areas versus those policyholders who reside inland.
Would it be fair, for example, to keep rates in some areas frozen at their current levels even if the models showed a potential decrease? Or should Citizens just adopt a blanket 10 percent rate hike for all policyholders regardless of where they live?
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.
